Nasdaq Rallies as Facebook Blows Away Investors (FB, SBUX)
The markets surged on Thursday after Facebook (FB) blew away investors with earnings and a large jump in monthly active mobile users. The company saw its highest close since its IPO and carried the Nasdaq Composite higher. Also reporting an exceptional report was Starbucks (SBUX), who raised their EPS target and saw shares soar after the bell. Zynga (ZNGA) posted a narrow loss for the second quarter.Several economic indicators were released today including jobless claims and durable goods orders. Unemployment claims rose last week most likely as a result of auto-plant shutdowns. Orders for durable goods rose more than expected in June. This mixed data falls somewhere in the middle when it comes to the Federal Reserve's lean towards a stimulus or a taper.
Word on the Street
Published on Jul 25, 2013By InvestorGuide Staff