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.

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Published on Jul 26, 2013
By InvestorGuide Staff

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