Stocks Fall on Friday; IMF Warns of Stimulus Exit (GRPN, LULU)
Although stocks had a great day on Thursday, the major indices continued the weekly slide on Friday on consumer sentiment and central bank worries. It was reported that consumer confidence dropped slightly in June after previously hitting a six-year high. The IMF cut its economic outlook for the US as well as warned that further monetary easing decisions should be made very carefully. Groupon (GRPN) surged on Friday after getting an upgrade by Deutsche Bank AG (DG). Smith & Wesson (SWHC) gained after beating earnings expectations.Eyes turn to the Fed's policy-setting meeting that is set for next week.
Word on the Street
- IMF warns that the sequester is hurting the US economy and recovery.
- Blackberry (BBRY) gets another boost on Friday with an upbeat report.
- Asia rebounds from sharp selloff as global stocks remain mixed.
- Groupon (GRPN) gets lift from on price target, shares jump over 15%.
- Quiksilver (ZQK) Surfs Straight Into a Tsunami.
Published on Jun 14, 2013By InvestorGuide Staff