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.
Word on the Street
- 217,000 jobs added in May.
- Consumer credit nearly doubles expectations in April.
- Target (TGT) is trying to win over Gen Y.
- Uber is now at $17 billion valuation after raising more funds.
- Old GM (GM) weighs heavy on new CEO Mary Barra.
- Google (GOOG) is looking for its own music streaming service.
- GW Pharmaceuticals' (GWPH) Epidiolex fast tracked by FDA.
Published on Jun 6, 2014By InvestorGuide Staff