Store Closings Continue as S&P 500 Achieves Another Record Close

Weekly Wrap Up

After a slow start this week due to the crisis in Ukraine, the S&P 500 achieved yet another record high on Friday. The Fed's Beige Book seems to support the notion that the harsh winter weather has played a significant role in slowing down the economy, as Yellen has been saying for some time now. But hopes are that the warmer weather will bring growth and help speed up the economy. The economy is already taking a step in the right direction as employers added 175,000 jobs in February, nearly 20,000 more than expected.

Brick and mortar chain stores may soon become a thing of the past as the number of store closing continues to rise.
This week Radio Shack (RSH) announced that they will be closing 20% of its North American locations to focus more on online retailing. Staples (SPLS) also announced that they will be closing 225 stores to focus more on its online business since currently half of the retailers sales already take place online. Many other retailers are expected to announce in the coming months that they will be closing stores, including Office Depot (ODP) who needs to shed some excess retail space since it recently acquired Office Max.

Economic News

Recovery On Track, But Still Slow And Steady 
It was easy to get excited Friday with the government's jobs report showed hiring picked up more than expected in February. The report looked great only because economists had been forecasting weaker numbers due to the harsh winter weather. (Source: CNN) Click here to read the full article

A Whole New Inflationary Threat Is On The Horizon...
The Commodity Research Bureau's BLS Foodstuffs index — a composite of prices of hogs, steers, lard, butter, soybean oil, cocoa, corn, Kansas City wheat, Minneapolis wheat, and sugar — has suddenly exploded higher in 2014 following a multi-year slide from all-time highs, as chart 1 illustrates. (Source: Business Insider) Click here to read the full article

Business News

Five Stocks to Watch in March 
The month of February saw the U.S. stock market continue making new all-time highs, with the S&P 500 making new record closes both on Thursday and Friday. While the broader based Russell 2000 outpaced larger cap indexes, the benchmark Dow Jones Industrial Average lagged the rest of the market. (Source: InvestorGuide) Click here to read the full article

Shares of FireEye Inc. (FEYE) dropped -4.37 or -4.88 percent to $85.18 in pre-market trading on Friday, after the company announced the price of their follow-on offering of 14,000,000 shares of its common stock. (Source: InvestorGuide) Click here to read the full article

Cerberus Buys Safeway, Merges It With Albertsons For Over $9 Billion
After a long courtship, private equity giant Cerberus Capital Management agreed to buy Safeway for over $9 billion on Thursday afternoon. (Source: Forbes) Click here to read the full article

Technology Focus

Shares of DISH Network Corp. (DISH) closed up +0.04 or +0.07 percent to $58. 88 per share on Monday. After the market close, the company announced a groundbreaking long-term agreement with The Walt Disney Company (DIS) that will allow DISH customers the option of streaming television programming over the Internet, versus receiving programs through a satellite dish. (Source: InvestorGuide) Click here to read the full article

Photographer Just Made $15K In One Day On Instagram
Daniel Arnold had $90.03 in his bank account on Thursday when he had a clever idea: Why not sell some photos on Instagram? (Source: Forbes) Click here to read the full article

Your Money

5 Futuristic ATM Features We Can't Wait To Check Out
Thanks to a wealth of new technology, the ATM could soon become a card-free, one-stop banking experience. In the realm of consumer banking, it's a change that is sorely needed.  (Source: Yahoo Finance) Click here to read the full article

Improve Your Financial Life - Automatically 
The bills accumulate. You vow to plow through them but never seem to have the time. Then the late fees start adding up and maybe your credit score gets dinged. (Source: CNN) Click here to read the full article

Published on Mar 7, 2014
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

Posted in ...