Dow's Tuesday Streak Ends as US Trade Deficit Climbs (DG, AMZN)

The long-running Tuesday winning streak ended for the major indices as central bank plans continued to concern investors. Suggestions were made that the Fed will need to bring the unemployment rate down closer to 7% before scaling back its economic stimulus after it was reported that jobless claims rose slightly last week. It was also shared that the US trade deficit grew to $40.3 billion in April, but this was less than expected. Dollar General (DG) dropped 9.2% after cutting its earnings outlook for the current year. Energy stocks including Valero (VLO) and Tesoro (TSO) did not fare well on Tuesday.
Anheuser-Busch InBev (ABV) completed its purchase of Grupo Modelo worth $20.1 billion after almost a year and a half of negotiations.

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Published on Jun 4, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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