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US Markets On Track for a Quarterly Gain; Fed Taper in Focus (AAPL, FB)

By: , dated June 28th, 2013

Weekly Wrap Up

Data as of 3:00 PM. After an initial selloff on Monday, a very strong three-day rally and mixed results on Friday, Wall Street moved toward a weekly gain. At the start of the week economic worries in Asian markets and the continued reaction to recent comments from the Fed dragged down stocks, but several positive economic reports in the US and further stimulus talk helped stocks recover.

Apple (AAPL: Charts, News) struggled this week as more than one analyst cut its price target. Accenture (CAN: Charts, News) dropped sharply on Friday and lowered its yearly outlook. The US dollar continued to rise throughout the week and chipped away at what will be a monthly loss and oil will see its first monthly gain in three months for June. More Market News

Economic News

US Consumer Sentiment Stays Near 6-Year High
A measure of U.S. consumer confidence remained near a six-year high in June as higher home prices boosted household wealth. (Source: Associated Press) Click here to read the full article
Fed’s Stein Puts Focus on September As Time to Assess QE3
September could be an opportune time for the Federal Reserve to consider scaling back its assets purchase, an influential official of the U.S. central bank said on Friday, as he stressed that the Fed must take a long view of economic progress and not be blinded by the most recent data. (Source: Reuters) Click here to read the full article

Business News

Walgreen’s Stock Down on Disappointing Earnings
Shares of Walgreen Company (WAG: Charts, News) closed down -2.83 or -5.89 percent to $45.22 on Tuesday after the company announced its 2013 third quarter earnings. (Source: InvestorGuide) Click here to read the full article
Spreadtrum Receives a $1.5 Billion Buyout Offer
A major company might be on the verge of being taken over by a Chinese university, in the latest round of market consolidation in the tech industry. (Source: InvestorGuide) Click here to read the full article
Immunomedics Soars After an Update Regarding its ADC Programs
Shares of biotech Immunomedics (IMMU: Charts, News) soared 16% at the end of last week, defying the slumping market, after the company provided a long-awaited clinical update regarding its antibody-drug conjugate (ADC) programs. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Facebook Introduces Instagram Video
Social media giant Facebook (FB: Charts, News) recently announced that it was adding video capabilities to its photo-sharing app, Instagram. (Source: InvestorGuide) Click here to read the full article
Oracle Fumbles on Foul Fourth Quarter Earnings
Shares of tech giant Oracle (ORCL: Charts, News) plunged last week, after the company missed Wall Street expectations for software sales and subscriptions for the second consecutive quarter. (Source: InvestorGuide) Click here to read the full article

Your Money

What I Learned From Steve Jobs
One of the best techniques for success in business and in life is intelligent selection of role models. They can serve as sources of wisdom and inspiration, as bright lights illuminating the path to the person you want to become. (Source: BusinessDictionary) Click here to read the full article
Feldstein: Quantitative Easing is Not ‘Printing Money’
Why has quantitative easing coexisted with price stability in the United States? Or, as I often hear, “Why has the Federal Reserve‚Äôs printing of so much money not caused higher inflation?” (Source: Business Insider) Click here to read the full article

 

This article was brought to you by the InvestorGuide Staff Writers and Editors.

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