U.S. Economy Shrinks 1% in Q1; Bitcoin is Back
The S&P 500 rallies after yesterdays loss to end the day up and hits yet another record close. The Dow Jones and Nasdaq also ended the day in the green. The U.S. economy shrunk in the first quarter for the first time in three years. It does appear that the decline will lead to a sharp rebound in Q2. Just two days after Pilgrim's Pride (PPC) offered $6.4 billion to acquire Hillshire Brands (HSH), Tyson Food (TSN) joined the bidding war and made an offer of $6.8 billion for Hillshire.After months of volatile behavior it appears that Bitcoin is back. The price of Bitcoin has shot up nearly 55%, to $566.35, since hitting its lowest point in mid-April.
Word on the Street
Published on May 29, 2014By InvestorGuide Staff