Record Finishes for Dow Jones and the S&P 500 Highlight the Week

Weekly Wrap Up

The Dow Jones continues its record run, ending Thursday above 16,000 for the first time in history. It was followed quickly by the S&P 500 finishing above 1,800 for the first time ever on Friday. Janet Yellen received the nomination for chair of the Federal Reserve by the Senate Banking committee, which is the next step in the process before being appointed as the future head of the Federal Reserve. A couple of financial penalties were assessed this week. On Tuesday it was announced that JP Morgan must pay a settlement of $13 million for their part in failed mortgage investments that helped spark the financial crisis in 2008.
Then on Thursday, a U.S. jury awarded Apple (AAPL) just over $290 million in damages during the retrial between Apple and Samsung over the misuse of patents.

Tesla (TSLA) has not been having a good month. Their shares continue to drop after the recent announcement of 3 car fires, a lawsuit, and on top of that their VP also left the company. But Consumer Reports announced on Friday that despite their PR issues the owners of Tesla vehicles are extremely satisfied with their cars. Predictions are being made that this Black Friday may show the smallest number of shoppers in recent years. This is in part due to stores offering sales earlier in November, certain retailers opening on Thanksgiving, and the rising popularity of Cyber Monday. Time Warner Cable (TWC) shares displayed a 10% increase on Friday after reports of a possible bidding war for the company has begun. Comcast (CMCSA) and Stamford, Connecticut based Charter Communications (CHTR) both would like to purchase the company.

Economic News

Dow Hits 16,000+ as GM, U.S. Government Breaks Ties 
Hit up Magnolia Bakery and stick a few thousand candles in some of their legendary buttercream frosting cake because the Dow Jones Industrial Average wants to celebrate...hard core. (Source: The Motley Fool) Click here to read the full article

The Week in Charts: Why Jobless Claims Drop May Not Be Such Great News
Jobless claims are dropping again, a seemingly merry trend leading into the holiday season. (Source: Market Watch) Click here to read the full article

Business News

SShares of Home Depot Inc. (HD) closed up +0.71 or +0.89 percent to $80.38 per share on Tuesday, after the company announced a better than expected third quarter profit. (Source: InvestorGuide) Click here to read the full article

Shares of Tesla Motors Inc. (TSLA) closed down -13.87 or -10.24 percent to $121.58 on Monday, the stock has not traded at this low a level since July. The sharp selloff began on November 5th and was in part attributed to a series of fires in three of the company’s S model vehicles, the first in early October and the most recent on November 7th. (Source: InvestorGuide) Click here to read the full article

Shares of Zulily Inc. (ZU) closed up +17.70 or +88.5 percent to $37.70 per share after its initial public offering on Friday. The stock traded as high as $41.32 during its first day of trading on the Nasdaq stock market. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Shares of Apple (AAPL) closed up +6.14 or +1.19 percent to $521.14 per share on Thursday, after a federal jury reached a verdict awarding Apple $290 million in damages from rival Samsung Electronics. (Source: InvestorGuide) Click here to read the full article

PlayStation 4 or Xbox One: Which Game Console to Buy This Holiday 
Today is the day: Xbox One is available in at least 13 territories. The PlayStation 4 launched last Friday to massive sales. (Source: Yahoo News) Click here to read the full article

Your Money

7 Ways to Resist the Urge to Splurge During the Holidays
The gift-giving season can turn even the thriftiest among us into shopaholics. (Source: Forbes) Click here to read the full article

Buying Health Insurance? Skip the Exchanges
The problematic roll-out of the online Obamacare exchanges has meant that just 10 percent of eligible people who visited the sites were actually able to enroll in a plan in their inaugural month. (Source: Yahoo Finance) Click here to read the full article

Published on Nov 22, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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