Stocks Volatile This Week on Taper Plan from Fed (ORCL, FB)

Weekly Wrap Up

This week of trading was very volatile with indices seeing the largest drop since November of 2011. Stocks were able to flatten out slightly by Friday after what was a strong reaction to the Fed's comments on its plan to ease up on the bond-buying program.

Financials such as Citigroup (C: Charts, News) and Bank of America (BAC: Charts, News) were hit hard on investor fears related to this taper.
Oracle (ORCL: Charts, News) missed expectations for quarterly sales and stumbled almost 9% by the end of the week. Several positive reports were released including data that home construction jumped 6.8% and that the leading economic index for the US increased in May. More Market News

Economic News

Bullard Slams Fed's Taper Plan, Says Timing Was Off
The Federal Reserve mistimed its announcement of a plan to end its bond-purchase program, St. Louis Fed President James Bullard said Friday. (Source: MarketWatch) Click here to read the full article
Treasurys Slide in Worst Week Since 2009
Treasury prices slid Friday, extending a massive selloff in the government bond market this week that sent yields dramatically higher after the Federal Reserve indicated it may scale back its bond-purchase program later this year. (Source: MarketWatch) Click here to read the full article

Business News

Gannett Company Buys Belo Corp. for $2.2 Billion
Gannett Company (GCI: Charts, News), the largest U.S. newspaper publisher by daily circulation, recently rose then plunged on mixed outlook regarding its abrupt $1.5 billion purchase of Belo Corp. (BLC: Charts, News). (Source: InvestorGuide) Click here to read the full article
Boeing Stock Up on New Orders
Shares of The Boeing Company (BA: Charts, News) closed up +1.05 or +1.02 percent to $104.08 on Tuesday after the company launched their 787-10 version of their Dreamliner aircraft at the Paris Airshow. (Source: InvestorGuide) Click here to read the full article
Myriad Genetics Plunges After a Partial Supreme Court Victory
Shares of diagnostic test maker Myriad Genetics (MYGN: Charts, News) plunged nearly 14% last Friday, after the company received a partial victory in its patent battle over its test for genes associated with breast and ovarian cancer, which ended four years of litigation. (Source: InvestorGuide) Click here to read the full article
PVH Soars on Strong First Quarter Results
Shares of apparel maker PVH Corporation (PVH: Charts, News) surged last week, after the parent company of Calvin Klein, Tommy Hilfiger and Izod reported robust first quarter earnings that exceeded analyst estimates. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Google Takes Waze Off the Table for $1.3 Billion
Recently, there’s been a lot of drama in the tech world about Waze, the Israeli online mapping company that has grown popular with mobile users. (Source: InvestorGuide) Click here to read the full article

Your Money

Don't Go Broke By Age 75
Financially, most people act as if every day is one day closer to the end of their lifetime, one less rainy or sunny day they must save for. (Source: MarketWatch) Click here to read the full article
The Big Panda In America's Living Room
Let’s give Bernanke a break. After stocks started to plummet Wednesday and continued to dive on Thursday, economic analysts widely blamed the rout on his Wednesday press conference on the potential QE3 wind down. (Source: Forbes) Click here to read the full article
Published on Jun 21, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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