Streak Ends on Wall Street; Dollar Rises Over 100 Yen (FNMA, STX)

The winning streak ended on Thursday as most of the US stocks erased gains and ended lower for the day. This was a record streak for the Street and a very strong first four-and-a-half months of the year. An unexpected drop in unemployment claims was announced and the four-week moving average fell to the lowest number since November of 2007. Tesla (TSLA) jumped 31% after reporting it's first profit yesterday and Green Mountain Coffee Roasters (GMCR) also surged after beating expectations for Q2 earnings.
Seagate (STX) fell after a hedge-fund manager singled out the company to short. The dollar rallied over the 100-yen barrier today, a first since April of 2009.

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Published on May 9, 2013
By InvestorGuide Staff

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