Friday Ends With Gains; Twitter Creates Buzz Around IPO Plans
Stocks were mostly higher on Friday and the Dow was able to post its best week since January. Syria fear is starting to fade more and more and investors' focus is turning to the Federal Reserve's meeting next week. It was reported today that retail sales only gained 0.2% last month, a disappointing figure. A September gauge of consumer sentiment showed a drop that was below expectations as well. On a more positive not, a measure of future economic growth in the US hit the highest level since 2010. Twitter has announced plans to go public and created a social media buzz. JC Penney (JCP) fell on Friday after Vornado Realty Trust announced that it will be selling its 20% stake.Oil prices dropped 0.4% today for a total weekly decline of 2.1% while the US dollar ended flat against most currencies.
Word on the Street
- Consumer sentiment in the US hits a five-month low in September.
- US economic growth measure reaches highest level in over three years.
- JP Morgan (JPM) and other financials recover slightly by the afternoon.
- Twitter has announced plans to go public and files papers for an IPO.
- Lululemon (LULU) decreases its projected revenue and profit for the year.
- Vivus (VVUS) Plunges After Another CEO Resigns.
Published on Sep 13, 2013By InvestorGuide Staff