Dow Snaps 6-Week Streak as Taper Uncertainty Continues (YELP, FSLR)

Weekly Wrap Up


After six positive weekly gains in a row, the Dow Jones finally snapped its winning streak. The US markets fell four out of five days this week with light trading volume and mixed corporate earnings. Groupon (GRPN: Charts, News) surged earlier in the week on earnings and hopes for a turnaround while Bank of America (BAC: Charts, News) stumbled after a suit was filed against the company for misleading investors.

Timing for the end to the Fed's stimulus remains unclear and caused investors to look for economic signs of a taper.The uncertainty led to a retreat in US Treasury yields as well as a weekly drop for the dollar.
More Market News

Economic News

Obama Talks Surveillance, Next Fed Chief
President Barack Obama on Friday outlined reforms to put greater scrutiny on the government’s secret surveillance programs, as the debate about the National Security Agency’s unprecedented powers continue. (Source: MarketWatch) Click here to read the full article
Oil Rises Near $106 on Strong China Economic Data
The price of oil rose more than 2 percent Friday as positive economic news from China outweighed expectations that the U.S. Federal Reserve would soon start withdrawing its bond-buying program. (Source: Yahoo!) Click here to read the full article

Business News

First Solar Stock Down on Earnings, GE & Element Power Deals
Shares of First Solar Inc. (FSLR: Charts, News) traded down -4.46 or -9.54 percent in pre-market trading on Wednesday, after the company reported its second quarter earnings for fiscal 2013. (Source: InvestorGuide) Click here to read the full article
Cadence Pharmaceuticals Fails to Meet High Analyst Expectations
Shares of biotech company Cadence Pharmaceuticals (CADX: Charts, News) plunged last week after its quarterly earnings missed analyst estimates. (Source: InvestorGuide) Click here to read the full article
Trulia Surges to a New 52-Week High on Robust Second Quarter Earnings
Shares of real estate portal website Trulia (TRLA: Charts, News) surged last week, after the company reported a per share loss that was better than analyst projections. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Yelp Surges on New Highs on Robus Revenue Growth
Shares of local recommendation site Yelp (YELP: Charts, News) surged last week, after the San Francisco-based company reported a second quarter loss of a penny per share, up from the loss of $0.03 per share it reported in the prior year quarter. (Source: InvestorGuide) Click here to read the full article
Cray Computer Surges Then Falls After a Strong Second Quarter
Shares of supercomputer maker Cray (CRAY: Charts, News) surged 17% last week after it reported its second quarter earnings, which came in ahead of analyst estimates. (Source: InvestorGuide) Click here to read the full article

Your Money

The Role of Confidence
Confidence is generally defined as belief in one's ability to choose a course of action and execute on it. Although it's not part of the definitions I've consulted, I think confidence also connotes optimism (at least it does among investors). (Source: Howard Marks) Click here to read the full article
AmazonFresh is Jeff Bezos' Last Mile Quest for Total Retail Domination
The first thing you notice about Jeff Bezos is how he strides into a room. A surprisingly diminutive figure, clad in blue jeans and a blue pinstripe button-down, Bezos flings open the door with an audible whoosh and instantly commands the space with his explosive voice, boisterous manner, and a look of total confidence. (Source: Fast Company) Click here to read the full article
 
Published on Aug 9, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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