April Jobs Report Beats Estimates; Fed Will Continue Tapering

Weekly Wrap Up

The stocks ended the week down on Friday but had some bright spots during the week - on Wednesday the Dow Jones closed at a record high. The Federal Reserve announced this week that they would be cutting the stimulus once again. The Fed will  now only spend $45 billion a month on bond purchases, down $10 billion from $55 billion. This shows that despite the weak first quarter, the Fed believes that the economy is on the right track and will continue to recover.

On Friday, the April jobs report was released and blew expectations out of the water.
288,000 jobs were added last month, the highest number of jobs added in a single month in over two years. After months of speculation, Ford (F) announced who will take over as CEO. Current CEO, Alan Mulally will be stepping down on July 1 and he will be replaced by current COO Mark Fields.

Economic News

Fed Continues Taper, Holds Rates Steady
The Federal Reserve will reduce its monthly bond purchases to $45 billion, continuing its so-called tapering policy, the Federal Open Market Committee announced Wednesday. (Source: Fox Business) Click here to read the full article

Jump in Jobs: We've Been Here Before
The 288,000 jobs added by employers in April would be enough to get excited about if not for the fact that there have been many false starts during this recovery. (Source: CNN) Click here to read the full article

Business News

Five Stocks to Watch in May
The U.S. stock market continued its relentless rally in April, with the Dow Jones Industrial Average closing at a new all-time high of 16,580.84 and the S&P hitting a new high of 1897.28 on April 2nd. (Source: InvestorGuide) Click here to read the full article

Shares of Charter Communications Inc. (CHTR) closed at $130.01 per share, down -0.48 or -0.37 percent on Friday. The company just announced a deal with Comcast Corporation (CMCSA) that will increase the company’s subscriber base. (Source: InvestorGuide) Click here to read the full article

Shares of Seattle, Washington-based Zillow Inc. (Z) rose on Tuesday, on a rising day on Wall Street overall. Zillow’s stock closed up $12.79 per share, or 14.05%, to $103.84 per share, on volume of 3,231,611 shares. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Shares of LinkedIn Corp. (LNKD) were trading at $160.00 per share, down -1.22 or -0.76 percent in early pre-market trading Friday, after the company announced its first quarter 2014 earnings right after the close of trading on Thursday. (Source: InvestorGuide) Click here to read the full article

Shares of Nokia Corp. (NOK) were up +0.54 or +7.68 percent to $7.57 per share in pre-market trading this morning, after the company announced it was naming Rajeev Suri to be Nokia’s new chief executive officer. (Source: InvestorGuide) Click here to read the full article

Your Money

Who Pays the Most Income Taxes?
New data from the Organisation for Economic Co-operation and Development compared tax rates and social security deductions on average incomes in 34 countries. (Source: CNN Money) Click here to read the full article

Millennials Are Saving for Retirement at a Much Earlier Age
Millennials are not only saving for retirement at an earlier age than their parent's generation, but they are also saving more aggressively. (Source: Yahoo Finance) Click here to read the full article

Published on May 2, 2014
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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