Fed Remarks Push Dow and S&P to New Record Highs (AAPL, JPM)
Both the Dow and S&P 500 ended at record highs on Tuesday after the Fed signaled that it is far from winding down its quantitative easing. Industries that made positive moves today included health-care, financial and consumer stocks, while tech companies faltered. Herbalife (HLF) continued to trade another 2% higher and JP Morgan (JPM) also climbed after Chairman and CEO Dimon was able to hold onto his titles. Apple (AAPL) executive Tim Cook testified today on accusations regarding the companies tax practices.The US dollar was able to gain ground after the Fed's comments and ahead of Ben Bernanke's testimony on Wednesday.
Word on the Street
- Signs of improving growth push global stocks higher and S&P to new record.
- Microsoft (MSFT) unveils its new Xbox One, game makers see shares rise.
- Sprint Nextel (S) increases its offer for Clearwire, now $2.5 billion for a 50% stake.
- PayPal Inc. to extend offline payment efforts to more traditional retailers.
- Apple (AAPL) Scores a $1 Billion Win Against Samsung.
Published on May 21, 2013By InvestorGuide Staff