S&P Sees Fresh Record; Gold Reachs 1-Month High (MCD, NFLX)
The S&P 500 closed at its 23rd record high of this year as corporate earnings continue to be released. A disappointing report came from the housing market where it was said that existing home-sales fell 1.2% in June. This news sent home-builder stocks tumbling. Japan's election of Prime Minister Shinzo Abe on Sunday sent global stocks up near a five-year high today. Yahoo (YHOO) director Daniel Loeb announced his board exit and plan to sell back his stake to the company. Hasbro (HAS) missed Q2 income on cautious consumer spending and McDonald's (MCD) fell off on disappointing earnings as well.Netflix (NFLX) beat expectations on Wall Street but dropped 5% after reporting a lower number in subscriber growth.
Word on the Street
- Data shows drop in home sales in June, sends home-builder stocks lower.
- Halliburton (HAL) off 1% on Monday despite beating earnings expectations.
- Global stocks near five-year highs after Abe wins Japanese elections.
- Gold surges 3% to a one-month high of over $1,300 an ounce.
- McDonald's (MCD) misses investor estimates for earnings but falls in line with revenue.
- Google (GOOG) Slides After Missing Top and Bottom Line Estimates.
Published on Jul 22, 2013By InvestorGuide Staff