Consumer Prices Rise on Oil; Street Ends Eight-Day Rally (YHOO, GS)
The S&P 500 wasn't able to hold on to its long winning streak on Tuesday and fell along with the Dow and Nasdaq. The markets retreated after a reduced stimulus was suggested by a Fed member. Coca-Cola (KO) posted disappointing earnings while Johnson & Johnson (JNJ) beat expectations with their Q2 results. Yahoo (YHOO) was able to beat Street expectations as well but overall saw revenue fall. Today marks Marissa Mayer's one year anniversary as Yahoo's CEO.It was announced that in the month of June homebuilder confidence jumped and consumer prices increased on the continuous rise of gasoline prices.
Word on the Street
- Consumer prices rise in June and inflation shows sign of stability.
- Homebuilder confidence rises to highest in nearly 8 years, investors still wary of mortgage rates.
- Goldman Sachs (GS) posts strong results but investors remain wary.
- Coca-Cola (KO) disappoints after reporting a drop in Q2 earnings.
- After reporting a year-on-year rise, JPMorgan (JPM) surges 31%.
Published on Jul 16, 2013By InvestorGuide Staff