Economic Data Pushes Markets Up Late on Thursday (VZ, SPLS)

Several positive reports caused US stocks to rise on Thursday, increasing the odds that the Federal Reserve may begin its taper in September. GDP growth data was released, showing a stronger-than-expected annual rate for the second quarter. Also, unemployment claims dropped more than estimated for the past week bringing the four-week moving average near a five-year low. Verizon (VZ) rose on talks of a potential buyout of UK's Vodafone Group (VOD) and Garmin Ltd. (GRMN) gained almost 7% on news that it may soon release a new product.
Campbell Soup (CPB) dropped after reporting a fiscal Q4 loss of $158 million. Investors are gearing up for September due to its reputation for being hard on stocks and the oncoming political and global battles that the US will face.

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Published on Aug 29, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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