U.S. Household Wealth Hits Record High in Q1; GM Fires 15 in Response to Pending Investigation
Stocks continued to gain throughout the day resulting with the Dow and S&P 500 closing at record highs. General Motors (GM) has taken action in response to the continual investigation into the faulty ignition switches that caused at least 13 deaths, firing 15 employees and disciplining 5 more. At least half of the employees who were fired were executives. U.S. household wealth hit a record high in the first quarter of 2014. The increase in household wealth is mainly due to the improving stock market and rising home prices. It appears that T-Mobile (TMUS) and Sprint (S) are close to coming to an agreement and closing the much anticipated deal.It is speculated that Sprint will acquire T-Mobile for around $40 a share which will value to deal anywhere between $31 billion and $50 billion.
Word on the Street
- U.S. household wealth increases in 1Q.
- Feds to address financial stability soon.
- GM (GM) fires 15 over ignition switch defect.
- Does the Fed impact stocks more than the jobs report?
- Alibaba continues to prepare for its IPO debut.
- The Verizon (VZ)-Netflix (NFLX) feud heats up.
- T-Mobile (TMUS) and Sprint close to an agreement.
Published on Jun 5, 2014By InvestorGuide Staff