Dow Jones and S&P 500 End the Month in Record Territory

Weekly Wrap Up


The Dow Jones and S&P 500 both ended the month in record territory. The S&P 500 ended with record highs multiple days this past week, but was joined by the Dow on Friday. Despite ending the day down, Nasdaq posted a gain for the month of May. For the first time in nearly a year U.S. consumers cut back on spending. Consumer spending unexpectedly fell 0.1% in April after big jumps in the previous months. This slight setback is unlikely to derail the economic recovery that is expected in the coming months.

A bidding war for Hillshire Brands (HSH) began this week.
On Tuesday, Pilgrim's Pride (PPC) offered $6.4 billion for the food company. Then on Thursday, Tyson Food (TSN) offered $6.8 billion, $0.4 billion more than Pilgrim's Pride. All this occurred less than a month after it appeared that Hillshire Brands was going to acquire Pinnacle Foods (PF).

Economic News


Consumer Spending Drops For First Time In A Year
U.S. consumers cut back on spending in April for the first time in a year, taking an unexpected pause after a big jump during the previous month. (Source: USA Today) Click here to read the full article

Fed's George Wants Rate Hikes Soon, And Not Too Gradual
Kansas City Federal Reserve Bank President Esther George said Thursday she is open to leaving the U.S. central bank's balance sheet big even as it withdraws accommodation, a comment that reveals the extent of uncertainty at the Fed over future policy. (Source: Yahoo News) Click here to read the full article

Business News


(PFE)
Shares of Pfizer Inc. (PFE) were up +0.21 or +0.71 percent to $29.70 per share in pre-market trading this morning. The company announced yesterday that it was abandoning its $118 billion bid for UK pharmaceutical giant AstraZeneca (AZN). (Source: InvestorGuide) Click here to read the full article

(HSH)
Shares of Chicago, IL, based Hillshire Brands Company (HSH) soared on Tuesday on a buyout bid from Pilgrim’s Pride (PPC). The stock was up $8.17 per share, or 22.07%, to close at $45.19, on volume of 41,656,963 shares. (Source: InvestorGuide) Click here to read the full article

(BNNY)
Shares of Annie’s Inc. (BNNY) were off -5.63 or -16.14 percent to $29.25 per share in pre-market trading on Friday, after the company announced earnings yesterday after the close. While earnings per share were better than expected, the company’s full year guidance disappointed analysts. (Source: InvestorGuide) Click here to read the full article

Technology Focus


(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

Why Apple Needs Samsung
Every snob needs an inferior. And thanks to the late Steve Jobs, no company has more deeply integrated snobbery into its brand than Apple. (Source: USA Today) Click here to read the full article

Your Money


Does "Good" Debit Still Exist? 
Having experienced the Great Recession earlier this decade, we’re all familiar with the dangers of over-extended consumers maxed out on debt with little savings to speak of.  (Source: Yahoo Finance) Click here to read the full article

12 Sites to Help You Save and Make Money By Sharing
The sharing economy has exploded. There are nearly 5,000 sharing companies, organizations and programs, according to the Mesh Labs Global Sharing Economy Index.  (Source: Kiplinger) Click here to read the full article

Published on May 30, 2014
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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