US Posts July Deficit of $98B; Techs Keep Nasdaq Afloat (BBRY, JPM)
Stocks opened lower Monday morning after disappointing data was released from Japan regarding economic growth for the second quarter. By the close of the bell the US markets ended mixed after what was a quiet day of trading. The federal government posted a higher budget deficit in July than was recorded for June, but because of higher tax receipts the annual gap may end up being the smallest in five years. Blackberry (BBRY) gained as news circulated that the company is currently exploring strategic options and may even go private.Gains from LinkedIn (LNKD) and Apple (AAPL) made tech stocks the leaders for the day while financials including JP Morgan (JPM) struggled. The US dollar recovered slightly on Monday ahead of possible Fed policy.
Word on the Street
- US posts a $97.6 billion budget in July, while gap for first 10 months is down 38%.
- Could Blackberry (BBRY) be exploring a complete sale of the company?
- Disappointing growth in Japan weighs down US and global markets.
- JP Morgan (JPM) drags down financials on Monday.
- Second-quarter earnings beat estimates for Diodes Inc. (DIOD).
- JC Penney (JCP) Looks for a New Leader... Again.
Published on Aug 12, 2013By InvestorGuide Staff