Dow and S&P Close at Record Highs; US Posts June Budget Surplus of $117B
The US markets jumped on Thursday after Ben Bernanke reminded everyone that the Fed would remain accommodative for the foreseeable future. Economic data showed that jobless claims hit a two-month high last week and rose by 16,000. Microsoft (MSFT) was in the news all day as it outlined a reorganization plan. Advanced Micro Devices (AMD) gained 10% on Thursday after being upgraded by Canaccord Genuity Ltd. This week during meetings US and Chinese officials began negotating a possible renewal of an investment treaty.Oil prices fell from a fifteen-month high and the US dollar slid against most major foreign currencies.
Word on the Street
- US government posts budget surplus of $117 billion in June.
- Will Microsoft's (MSFT) restructuring really help the company innovate?
- Yum! Brands (YUM) misses revenue estimates on its weak China division.
- What does China have to say about the US' plans to end its monetary policy?
- Celldex Therapeutics (CLDX) Surges on an Upgrade.
Published on Jul 11, 2013By InvestorGuide Staff