Strong Productivity Data Drives Stocks Up

All three main indices end up after a lackluster last week. The stocks shot up today after strong productivity data was released today. U.S. worker productivity jumped up 3% in the third quarter, which is the fastest growth in almost four years. This along with other strong economic reports show that the economy is starting to do better and continues to grow. Avago Technologies (AVGO) is going to buy LSI Corp (LSI)  for $6.6 billion. This acquisition will enable Avago Technologies to enter the business of creating semiconductors in early 2014.
Just days after the government sold all of General Motor's (GM) shares from the bailout, GM announces that it will invest $1.3 billion to upgrade plants that produce powertrain components. The Federal Reserve is set to meet later this week and the meeting may reveal some much anticipated information about tapering of the stimulus package.

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Published on Dec 16, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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