Economic Uncertaintly Grows; Facebook Propelled by Mobile (FB, YELP)

Stocks were not able to extend their gains on Wednesday and ended in the red for the most part. The Federal Reserve announced their plan to stick to its monetary policy, as expected. Officials also said that bond purchases could be increased or decreased depending on the economy. The ADP reported that the private sector added much fewer jobs than expected in April and the manufacturing sector also disappointed many with a drop in March construction. Merck (MRK) and Time Warner (TWC) both missed earnings estimates with their Wednesday reports.
Facebook (FB) saw Q1 earnings grow 6.8% as their mobile presence continues to expand.

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Published on May 1, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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