Markets Recover on Friday; Facebook Rises on Video Feature (FB, PG)
Most US stocks were able to pull higher on Friday after two days of steep losses. Despite wavering trading earlier in the day both the Dow and S&P were able to finish in the green by the close of the bell. Hewlett-Packard (HPQ) and Oracle (ORCL) both tumbled while shares of Groupon (GRPN), Micron Technology (MU) and Proctor & Gamble (PG) rallied.Several investors made comments that the Fed's message about a taper was misread by the markets and that the announcement was mistimed. The US dollar saw gains for the third consecutive day in the wake of Bernanke's signals.
Word on the Street
- Fed gets slammed for mistimed taper plan announcement.
- Darden Restaurants (DRI) beats quarterly sales expectations.
- Oracle (ORCL) continues its fall on Friday on recent sales performance concerns.
- Jobless claims for the week rise more than expected.
- Myriad Genetics (MYGN) Plunges After a Partial Supreme Court Victory.
Published on Jun 21, 2013By InvestorGuide Staff