Another Record Close for the S&P 500; Stocks Post Strong Gains in February
After powering past its all-time closing high on Thursday, the S&P 500 did it once again and closed at another record high on Friday. In February the U.S. stocks fared pretty well, with Nasdaq adding 5% and the Dow Jones and S&P 500 both gaining 4%. Popular restaurant deliverer, GrubHub, has plans to file an IPO and hopes to raise around $100 million when its shares do become public. This year has been a busy year for IPOs. Thus far, 37 companies have sold their shares to the public, up 85% from last year. The airline industry continues to get hard by the harsh winter weather. United Continental (UAL) has cancelled 22,500 flights this year so far, which is four times the amount of flights it cancelled in the first two months of 2013.
Word on the Street
- Housing inequality continues between the rich and poor.
- Google (GOOG) denies offering to acquire WhatsApp.
- GrupHub restaurant deliverer files its IPO plans.
- Bitcoin exchange Mt. Gox is filing for bankruptcy.
- Quiznos may be filing for bankruptcy soon.
- Gap (GPS) beats estimates, increases dividend.
Interesting Tidbits
- What type of tax deduction should you take?
- Surprising jobs that pay around minimum wage.
Published on Feb 28, 2014
By InvestorGuide Staff 