S&P Rallies Over 1900 For the First Time; Dollar and Gas See Weekly Gains

Weekly Wrap Up


Wall Street extended gains through the end of the week with the S&P reaching record high territory once again. It is the first weekly advance for the index in three weeks. The Spring selling season is fully underway and it was reported that new home sales hit higher than expected in April. Oil futures scored a weekly gain and hit a one-month high while gold slipped on Friday, tallying a small weekly loss.

Many company earnings were released over the last few days including a disappointing report from Gap (GPS), who saw net income slump 22% in their first quarter.
GameStop (GME) announced a Q3 profit increase to $68 million on Friday. Earlier in the week AT&T (T) announced that the company will be purchasing DirecTV (DTV) for $48.5 billion. If this deal goes through and regulators approve the proposed deal between Time Warner Cable and Comcast, the two newly formed giant companies may end up providing Internet and TV service to half of all US households.

Economic News


Housing Recovery Requires Tricky Balancing Act
That strategy works well enough in the movies, but home builders didn't exactly experience a Hollywood ending when the housing bust took hold. (Source: Yahoo Finance) Click here to read the full article

Gold Slips Before Housing Data, Drops for Week
Gold prices dipped Friday, putting them on pace for a mild weekly decline, as traders waited for a report that’s expected to show a rebound in U.S. new-home sales. (Source: Market Watch) Click here to read the full article

Business News


(BA)
Shares of the Boeing Company (BA) closed up +0.88, or +0.67 percent to $131.84 per share in moderately active trading on Thursday, while the general market gained moderately. (Source: InvestorGuide) Click here to read the full article

(JD)
Shares of JD.com (JD) were trading up +16.7 percent in active trading this morning, after the company had its initial public offering at $19 per share. JD.com stock is currently trading at $22.18 per share. (Source: InvestorGuide) Click here to read the full article

(CS)
Shares of Credit Suisse Group AG (CS) were up +0.41 or +1.41 percent to $29.51 per share in pre-market trading this morning, after the company pled guilty to criminal charges yesterday and agreed to pay $2.815 billion in penalties for conspiring to aid thousands of U.S. account holders in evading taxes. (Source: InvestorGuide) Click here to read the full article

Technology Focus


Google Close To Snapping UP Satellite Startup Skybox Imaging For $1B+, Says Sources
In April, Google made a play for the skies when it swept in and acquired Titan Aerospace amid reports that the drone maker was being pursued by Facebook. (Source: Techcrunch) Click here to read the full article

Microsoft Stands Up To FBI Over Customer Data
Eager to promote its privacy credentials, Microsoft has revealed that it's successfully seen off the FBI in court over a request for customer information. (Source: Forbes) Click here to read the full article

Your Money


5 Easy Tips for Bulking Up Your Retirement Savings
It can be hard to put money toward your retirement each month. A lot of what you make goes toward your expenses, placing your retirement account on the bottom of your priority list. (Source: Wall St. CheatSheet) Click here to read the full article

How to Save Money By Simplifying Your Life
Nearly half of households in the United States are "liquid asset poor," meaning they have less than three month's worth of savings in the bank, according to a report this year from the Corporation for Enterprise Development, a nonprofit that tracks household financial security. (Source: Yahoo Finance) Click here to read the full article

Published on May 23, 2014
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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