Stocks Continue to Struggle as Dow Jones Drops 318 Points

Weekly Wrap Up

Stocks continue to struggle this week with the Dow Jones ending the week dropping around 318 points on Friday. The S&P 500 and the Dow Jones finished the week below 1,800 and 16,000, respectively. The World Economic Forum began this week bringing the world's top leaders together in Davos, Switzerland. While many decisions aren't decisively made at the forum, it is an opportunity for leaders from around the world to see what others are doing and bring back ideas to their constituents.

Target (TGT) wasn't the only company that suffered a security breach during the holiday shopping season.
Neiman Marcus announced this week that their stores were hacked by malicious software, compromising approximately 1.1 million credit and debit cards. There were two Mexican citizens arrested this week with 96 fraudulent credit cards, but questions continue to arise over who is responsible for Target's security breach that impacted 110 million Americans. Target and Neiman Marcus' security breaches led headlines but there are reports of a couple more smaller breaches that occurred during 2013. Many experts are warning that without increased cyber security breaches of this magnitude could become more common.

Economic News

Davos Elite: Inequality Corroding Democracy 
The elite have spoken from their mountain top retreat in Switzerland: rising inequality is undermining democracy as money buys big corporations and the wealthy greater political influence. (Source: CNN Money) Click here to read the full article

How to Invest in the Hottest Stock Sectors 
One way to beat the market is to invest in the hottest industrial sectors, writes Mark Hulbert. Industrial-momentum portfolio strategies beat the S&P 500 last year, and have beaten the broader market over time as well. (Source: Market Watch) Click here to read the full article

Business News

Shares of Netflix Inc. (NFLX) closed up +54.99 or +16.48 percent to $388.72 per share on Thursday, after the company announced earnings on Wednesday afternoon. The stock rallied sharply in after-hours trading as the company reported earnings of $48.4 million or $0.79 per share for the quarter. (Source: InvestorGuide) Click here to read the full article

Shares of the General Electric Company (GE) closed down -0.62 or -2.28 percent on Friday on almost triple its daily volume. U.S. markets were closed on Monday morning in observance of Martin Luther King’s Birthday, however, GE announced this morning it would be buying Cameron International Corp.’s CAM reciprocating compression unit for $550 million. (Source: InvestorGuide) Click here to read the full article

Exclusive: FBI Warns Retailers to Expect More Credit Card Breaches
The FBI has warned U.S. retailers to prepare for more cyber attacks after discovering about 20 hacking cases in the past year that involved the same kind of malicious software used against Target Corp in the holiday shopping season. (Source: Yahoo Finance) Click here to read the full article

Technology Focus

Shares of BlackBerry Ltd (BBRY) closed up +0.52 or +6.07 percent to $9.08 per share on Monday on twice its normal daily volume, after news the U.S. Defense Department will use the company’s smartphones in one of its new networks. (Source: InvestorGuide) Click here to read the full article

Shares of eBay Inc. (EBAY) were trading up +2.33 or +4.28 percent to $56.65 per share in pre-market trading on Thursday, after the company released its fiscal fourth quarter and full-year earnings results Wednesday afternoon. (Source: InvestorGuide) Click here to read the full article

Your Money

12 Personal Finance Moves You Should Make by Age 30
Turning 30 is a big milestone in your life. You're making your goodbyes to young adulthood and slowly coming into your own. With age comes great responsibilities, and at the top of your list should be taking charge of your money. (Source: Yahoo) Click here to read the full article

6 Flawed Rules of Personal Finance
That may mean that a lot of people are falling short of their financial goals because they’re following what they believe are “the rules” of personal finance. (Source: Market Watch) Click here to read the full article

Published on Jan 24, 2014
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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