May Ends on a Positive Note for Stocks, Economic Indicators Mixed

Weekly Wrap Up

[Data as of 2:10 PM EST] The S&P 500 finished this week on track to see its seventh straight positive month and has already gained 15% in 2013 so far. Economic reports were mixed - consumer sentiment increased in May and home prices are on the rise, but jobless claims ticked higher. Concerns continue to grow over the strength of the economy and many question the duration of the Fed's stimulus.

Financials and tech stocks had a fairly solid week. Apple (AAPL) and Netflix (NFLX) both advanced their sector by the end of Friday.
Tesla Motors (TSLA) was in focus as the company shared its plans for the future. By the end of the week the US dollar fell to a three-week low against the yen but will end positive for the month. More Market News

Economic News

Stocks Edge Lower After Americans Cut Spending
Stocks edged lower in early trading on Wall Street Friday after the government reported that Americans cut back on spending last month for the first time in almost a year. (Source: Yahoo!) Click here to read the full article
Consumer Sentiment Highest Since 2007
A gauge on consumer sentiment this month reached the highest level since 2007, thanks to cheerier expectations and a rosier outlook on current economic conditions, according to data released Friday. (Source: MarketWatch) Click here to read the full article
Asian Shares, Dollar Pressured as Nikkei Outperforms
Asian shares and the dollar stayed pressured while Japanese equities outpeformed on Friday, and investors remained nervous over whether the U.S. Federal Reserve might soon taper off the stimulus programme that has helped send Wall Street soaring. (Source: Yahoo!) Click here to read the full article

Business News

Retailers Declare War on Visa and Mastercard
Payment processing giants Visa (V: Charts, News) and Mastercard (MA: Charts, News) recently found itself at odds with a group of major retailers across the United States, that claimed that the card companies’ swipe (transaction) fee practices were illegal. (Source: InvestorGuide) Click here to read the full article
News Corporation Will Split Into Two Companies Next Month
Rupert Murdoch’s News Corporation (NWS: Charts, News) recently announced that the company was splitting into two companies. News Corp will split its publishing business, which will retain the company’s name, from its entertainment business, which will be renamed 21st Century Fox. (Source: InvestorGuide) Click here to read the full article
Citigroup Settles with FHFA
Shares of Citigroup Inc. (C: Charts, News) closed up +1.27 or +2.51 percent to $51.79 on Tuesday after news that the company had settled a lawsuit with the Federal Housing Finance Agency or FHFA. (Source: InvestorGuide) Click here to read the full article
Sears Holdings Slides on Dismal First Quarter Earnings
Shares of Sears Holdings (SHLD: Charts, News) slid last week, after the company reported first quarter earnings that simply reinforced what investors had come to expect from the troubled retailer - declining top line, bottom line and same-store sales growth. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Apple, Netflix Among Advancers as Techs Rise
Tech stocks showed signs of shaking off early losses, as big names such as Apple Inc. and Netflix Inc. rose and the overall sector tried to close out May on an upbeat note. (Source: MarketWatch) Click here to read the full article

Your Money

Shades of Prerecession Borrowing
AMERICAN investors have taken out more margin loans than ever before. That indicates that speculative investing has grown among retail investors, reaching levels that in the past indicated the market was getting to unsustainable levels and might be in for a fall. (Source: NY Times) Click here to read the full article
The Real Reason Millenials Don't Buy Cars and Homes
They’re narcissistic. Apathetic. Pampered. And addicted to their four-inch screens. If you believe the conventional wisdom about the millennial generation - those 16 to 34 years of age, by most calculations - you’ve got considerable reason to worry about the future of the U.S. (Source: Yahoo!) Click here to read the full article
Published on May 31, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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