Record Days Continue; Federal Reserve Chair Nomination by Obama

The three main indexes all finished in the green today, with the S&P 500 and the Dow Jones both achieving new closing highs. Some are citing the good day on the confirmation of Janet Yellen who has been nominated by President Obama to become the next chair of the Federal Reserve. Facebook (FB) reportedly tried to buy Snapchat for $3 billion, but Snapchat refused the offer. Extended Stay America (STAY) had a good first day on the stock market. Shares rose 16% on the first day the company became publicly traded.
Starbucks (SBUX) must pay Kraft (KRFT) $2.7 billion after breaking terms of a distribution deal. Starbucks is not pleased with this decision and place some of the blame on Kraft after citing that Kraft breached the contract first. Macy's (M) is very optimistic about the upcoming holiday season after posting much better than expected third quarter earnings. Macy's stock also rose 9.4% today.

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Published on Nov 13, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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