Stocks continue to rally and end up for a second straight day as the S&P 500 achieves yet another record close. Investors are worried that there may be a crash similar to what occurred in 1987 on the horizon. Many investors are marveling at the similarities of the bull market today to that of 1987 and hoping that history doesn’t repeat itself. In 1987 the S&P 500 suffered its biggest one-day crash in history, completely wiping out the rally that had started 5 years prior, in 1982. Despite King Digital Entertainment (KING) having a less than stellar start on its IPO, Rubicon Project’s (RUBI) IPO shares jumped up 38% on its first day of trading showing that the IPO market is not dead yet. Google’s (GOOG) less than appealing stock split occurred today. While it sounds good on the surface, in reality it is not as appealing. This is because many shareholders will be receiving Class C shares and Class C shareholders receive no voting rights within the company.
Word on the Street
- Blackberry (BBRY) and T-Mobile (TMUS) part ways.
- Amazon (AMZN) reveals new streaming video box.
- Did a GM (GM) engineer lie about the deadly ignition switch?
- 191,000 jobs added in March.
- Chrysler recalls nearly 1 million SUVs.
- Microsoft (MSFT) announces updates for new Windows Phone.
- United Continental (UAL) up on stock upgrade.