Consumer Sentiment Hits 6-Year High; Stocks See Mild Gains on Friday
On Friday stocks rose on a higher-than-expected consumer sentiment reading and ahead of bank meetings to take place next week. Starbucks (SBUX) continued to surge after reporting results yesterday while Expedia (EXPE) tumbled 26% on missed earnings. Principal Financial Group (PFG) traded more than 6% higher after raising its quarterly dividend by 13%. SAC Capital Advisors pleaded not guilty today to charges of insider trading that possibly made the company "hundreds of millions of dollars" in illegal profits.In global news, consumer prices rose to the highest since 2008 in Japan and China announced that 1,400 companies in certain industries needed to cut excess capacity by the end of 2013.
Word on the Street
- Consumer sentiment reaches a six-year high in July on higher stock and house prices.
- It looks like the European economy may finally be showing signs of life.
- SAC Capital pleads not guilty to insider trading charges.
- Amazon (AMZN) price target raised despite Q2 loss.
- The latest International Energy Outlook shows China will use twice as much as the US by 2040.
- Advanced Micro Devices (AMD) Claims Video Game Consoles Will Revive its Top Line Growth.
Published on Jul 26, 2013By InvestorGuide Staff