Dow and S&P Hit Record Highs on Positive Economic Reports

Weekly Wrap Up

The markets were up and down this week but managed to end on a positive note. Jobless claims dropped to a five-year low. Early on Monday the euro zone approved a 2.8 billion euro loan plan for Greece, and finally on Thursday the ECB announced its refinancing rate cut. By the end of the week oil was up 2.8% and reached a one-month high after the positive jobs market data.
The energy and technology sectors were strong the past few days. Apple (AAPL: Charts, News) announced a 21% jump in quarterly earnings and Intel (INTC: Charts, News) surged after announcing their choice for CEO.
Auto makers including General Motors (GM: Charts, News) also had a solid week. More Market News

Economic News

S&P 500, Dow Hit Milestones After Strong Jobs Report
U.S. stocks rallied on Friday, with the S&P 500 and Dow industrials hitting intraday records after employment grew more than expected in April, easing concerns about a weak economy. (Source: Yahoo!) Click here to read the full article
How Construction Can Lose Jobs in Middle of Home Building Rebound
The sector lost about 6,000 jobs overall, according to the Labor Department's jobs report. This was largely due to a decline in hiring for non-residential buildings or public works projects like roads or sewer plants. Combined, these two areas lost 19,700 jobs. (Source: CNN) Click here to read the full article

Business News

The New York Times' Bottom Line Continue Declining
The New York Times Company (NYT: Charts, News) plunged last week, after the company reported first quarter earnings that showed weakness across all print divisions. (Source: InvestorGuide) Click here to read the full article
D.R. Horton Soars to a Six-Year High
Shares of D.R. Horton (DHI: Charts, News), the largest U.S homebuilder by volume, soared to a six-year high last week after the company reported second quarter profit that handily topped analyst expectations. (Source: InvestorGuide) Click here to read the full article
Altria Enters the E-Cigarette Business
Tobacco giant Altria (MO: Charts, News), the largest tobacco company in America, announced that it was planning to release an electronic cigarette later this year, to offset waning demand for its flagship cigarette products, such as Marlboro. (Source: InvestorGuide) Click here to read the full article
The U.S. Government Declares War on Novartis AG
The U.S. government declared war on Novartis AG (NVS: Charts, News) last week, launching two civil fraud lawsuits against the Swiss drug maker in four days. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Clear Sailling for Another Apple Run
Apple’s (AAPL: Charts, News) now up 15% from the recent lows, still down huge from its recent highs, but up even more huge since my subscribers and I first bought it a decade ago at $7 a share. (Source: MarketWatch) Click here to read the full article
It’s no secret that the amount of time that tech companies are spending in Washington, D.C., is at a high. And money spent on lobbying has also been reaching peaks for a number of well-known technology giants, including Facebook (FB: Charts, News). (Source: TechCrunch) Click here to read the full article

Your Money

College Grads: Uncle Sam Doesn't Want You
David Lopez, a senior and student body president at Temple University in Philadelphia has been working in politics since he was a 17-year-old interning for Hillary Clinton’s presidential campaign. While working on his political science degree, Lopez, now 21, also racked up internships at the White House and the Democratic National Committee. But two weeks away from his college graduation... (Source: MarketWatch) Click here to read the full article
Five Stocks to Watch in May
The stock market ended the month of April racking up its fifth consecutive month of gains as measured by the Dow and sixth, as measured by the Nasdaq and S&P 500 Indexes. By Tuesday’s close, the S& P 500 Index traded up +0.3% to a new all-time high, closing at 1,597.57. The Index rose +1.8% in April. (Source: InvestorGuide) Click here to read the full article
Published on May 3, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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