Economy is Expanding as Twitter Makes its Big Debut

Twitter's (TWTR) stock performed very well during its debut. Last night it was decided that the IPO price would be set at $26 but the stock rose nearly 77% and opened at a price of $45.10 per share. Twitter fared much better on its first day than Facebook (FB) did back in May of 2012. Reports were recently delivered that the economy expanded 2.8% in the 3Q, now investors are worried that the Federal Reserve could start cutting back on its spending in the stimulus package as early as next month.
Mortgage rates are rising, but only slightly. The 30-year mortgage rate rose only 0.06% while a 15-year mortgage rate increased by 0.07%. It seems like the government shutdown isn't effecting the unemployed anymore as fewer Americans filed jobless claims last week, but we will know for sure as the October jobs report will be released tomorrow. The stocks ended the trading day on a new season low as Twitter seemed to be one of the few bright spots.

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Published on Nov 7, 2013
By InvestorGuide Staff

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