Dollar Rises; Tech Stocks Weighed Down by Accenture and Blackberry (ACN, BBRY)
PUBLISHED ON: Jun 28, 2013
[Data as of 3:00 PM] Stocks fluctuated on Friday after what was a significant three day rally on Wall Street. It was reported that consumer confidence remained around a 6-year high for the month of June. The Fed's Jeremy Stein made a statement that the central bank could hypothetically begin a taper as early as September. Accenture (ACN) stumbled after missing estimates for quarterly sales. Blackberry (BBRY) also slumped on a surprising net loss for the quarter ending June 1.The US dollar gained against the Japanese yen on Friday but headed towards a loss for June.
Word on the Street
- Fed official Jeremy Stein hints at a September taper.
- Home prices boost household wealth, consumer sentiment stays near 6-year high.
- Blackberry (BBRY) gets crushed on Friday after reporting a net loss.
- Nike (NKE) gains on jump in North American sales.
- Immunomedics (IMMU) Soars After an Update Regarding its ADC Programs.
Posted in ...Daily Market Commentary