Budget Worries Brings Indices Down Lower on Friday (BBRY, AAPL)
Stocks dipped lower for another day on Friday as investors continue to let the Federal Reserve's recent announcements sink in. St. Louis President Bullard made comments that the Fed may decide to taper in October if the economy continues to show signs of improvement. Several companies had IPOs today including BIND Therapeutics, FireEye and Rocket Fuel Inc. Caterpillar (CAT) dragged down the Dow after reporting quarterly sales and Blackberry (BBRY) weighed on Nasdaq and fell over 20%.Oil fell below $105 a barrel, closing at the lowest level in one month. The US dollar did not change much on Friday but ended with a weekly loss, mostly on the Fed's stimulus announcement.
Word on the Street
- Fed's James Bullard says taper may happen in October if jobs improve.
- Economic growth measure holds steady at the highest level in over three years.
- Apple (AAPL) sees strong demand as new iPhone sales kick off.
- JP Morgan (JPM) gains big for the Dow while other financials fall.
- The House of Representatives defunds Obamacare with a budget bill on Friday.
- Blackberry (BBRY) warns of lower revenues, drops 20%.
- Ulta Salon (ULTA) Surges After Strong Second Quarter Earnings and Solid Guidance.
Published on Sep 20, 2013By InvestorGuide Staff