Consumer Spending Unexpectedly Fell in April; Dow also in Record Territory
The Dow Jones joined the S&P 500 to both finish the day record territory. Nasdaq ended down. The stocks were red during the majority of the day after reports showed that consumer spending dropped in April. This was an unexpected dip and was the first time American consumers cut back on spending in nearly a year. Apple's (AAPL) shares are above $630 after their recent stock split and acquisition of Beats Entertainment and it seems like they are on tract to gain even more. Goldman Sachs (GS) raised its target price for Apple to $720, much higher than the previous prediction of $635.
Word on the Street
Published on May 30, 2014By InvestorGuide Staff