217,000 Jobs Added in May; Uber Valued at $17 Billion

May's job report was released today showing that more jobs were created than expected. The U.S. added 217,000 jobs last month while the unemployment rate remained constant at 6.3%. The jobs reports pushed stocks even higher, with the S&P 500 and Dow Jones closing at record highs and Nasdaq closing at its highest level in almost 3 months. The young Silicon Valley start-up Uber continues to raise funds. After recently raising an additional $1.2 billion the smartphone app is now valued at $17 billion. Apple (AAPL) shares are expected to drop from around $647.50 to $92.50 on Monday due to a stock split, Apple is doing this in hopes of bringing down the price of their stock.

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Published on Jun 6, 2014
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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