Stocks End Mixed After Lackluster Week; Twitter's Stock Continues to Rise

Weekly Wrap Up

The stock market had an overall lackluster week. After the S&P 500 ended Monday with a record close, the market ended down for the next three days. To close the week, the Dow Jones and Nasdaq ended in the green while the S&P 500 ends in the red. The poor week was attributed to the announcement that the Federal Reserve is set to meet next week to discuss when they will be tapering their spending. A few companies announced that they will be hiring new CEOs. General Motor's (GM) announced that for the first time a woman would become CEO of a top car manufacturer, naming Mary Barra as the next head of GM.
Qualcomm (QCOM) decided to hire within, promoting Steven Mollenkopf from COO to CEO. Mollenkopf was one of the top nominees to take over at Microsoft (MSFT), therefore, Microsoft's search for its next CEO continues.

Just a month after its IPO debut, Twitter's (TWTR) stock has continued to increase. On Friday, the price jumped up 4% on the day to $58.19, doubling the price of its IPO shares. On Monday after months of negotiations American Airlines and U.S. Air's merger was finally complete and began trading as American Airlines Group (AAL). Even though they are now considered one company, there is still months of changes to be made to make the two companies into one.

Economic News

Worst Year in History for Bond Funds
Investors have pulled out $72 billion from bond mutual funds this year. The outflow is the first in nearly a decade for bond funds, and tops the previous record in 1994. (Source: CNN) Click here to read the full article

Consumers' Big Purchases Lift Hopes for US Economy
Americans ramped up spending at retail businesses in November, providing a boost to the economy just in time for the holidays.But traditional retail stores didn't benefit as much from the latest burst of spending. (Source: Yahoo News) Click here to read the full article

Business News

Shares of the newly formed American Airlines Group Inc. began trading this morning under the symbol (AAL) on the Nasdaq Stock Exchange. The merger of the two airlines will create the largest carrier in the world with American emerging from bankruptcy. (Source: InvestorGuide) Click here to read the full article

Shares of the McDonald’s Corp. (MCD) declined -1.08 or -1.12 percent to close at $95.72 per share on Monday, after the company reported another month of sluggish sales at their established U.S. restaurants. (Source: InvestorGuide) Click here to read the full article

Shares of Hilton Worldwide Holdings Inc. (HLT) closed up +1.50 or +7.50 percent to $21.50 per share on Thursday, after the company had an initial public offering of common stock. The IPO was originally priced Wednesday night at $20.00 per share. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Shares of Cisco Systems Inc. (CSCO) closed down -0.33 or -1.56 percent to $20.88 per share on Wednesday as the company presented its Powered Cloud and Managed Services at “Cloud Connections”, an event held by Cisco at the JW Marriot Hotel (MAR) in Hong Kong. (Source: InvestorGuide) Click here to read the full article

Apple's iWatch Reportedly Set to Launch in October 2014
The iWatch rumor mill has grown suspiciously quiet over the past month, but the latest report might be the most exciting and substantial yet. According to C Technology, inside sources say that Apple’s smartwatch will be revealed alongside the next iPhone in October 2014. (Source: Yahoo News) Click here to read the full article

Your Money

Slide Show: 5 Money Moves to Make Before January
With just a few weeks remaining before we close the books on 2013, financial pros are telling investors it’s time to make certain last-minute moves. (Source: Market Watch) Click here to read the full article

25 Ways to Improve Your Finances in 2014
Are you ready to overhaul your spending patterns, start funneling more money into your bank account and buy better (and safer) products in 2014? (Source: Yahoo Finance) Click here to read the full article

Published on Dec 13, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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