Record Finishes Continue for Dow and S&P 500; Nasdaq Hits 3-Month High

Weekly Wrap Up

The Dow Jones and the S&P 500 achieved multiple record closes throughout the week. They both also ended the week with record highs and Nasdaq finished the week off at its highest level in almost 3 months. The May jobs report was released on Friday and the U.S. added 217,000 jobs last month, which was more than expected. The improving stock market is also impacting other parts of the economy. U.S. household wealth hit a record high in the first quarter due to the ever improving stock market and rising home prices.

The fight over Hillshire Brands (HSH) continues.
Pilgrim's Pride (PPC) increased their bid for Hillshire after Tyson Food (TSN) joined the bidding war. Pilgrim's Pride's current bid is $7.7 billion. General Motors (GM) fired 15 people and disciplined 5 more due to their involvement in failing to disclose the faulty ignition switch that has caused at least 13 deaths. The investigation continues into why the automaker took so long to report the issue.

Economic News

U.S. Added 217,000 Jobs in May; Unemployment Rate Remains 6.3%
Almost exactly five years into the recovery, total payrolls have finally surpassed where they were before the recession. (Source: New York Times) Click here to read the full article

Outside the Box: New Jobs Strain to Deliver Middle-Class Wages
The latest U.S. labor numbers show that unemployment is holding steady with 217,000 jobs created in May, but more workers find themselves stuck in low-wage jobs, writes Adam Hersh. (Source: Market Watch) Click here to read the full article

Business News

Five Stocks to Watch in June
The U.S. stock market made yet another record in May, with the S&P 500 Index making a new all-time high on May 23rd and closing the month just 0.46 shy of the record. (Source: InvestorGuide) Click here to read the full article

Shares of Quiksilver Inc. (ZQK) were trading down -2.16 or -37.31 percent to $3.63 per share in pre-market trading on Tuesday, after the company announced financial results for its second fiscal quarter ended April 30th. (Source: InvestorGuide) Click here to read the full article

Shares of Greensboro, North Carolina, based The Fresh Market, Inc. (TFM) rose on Tuesday on news of insider buying. The Fresh Market’s stock was up $2.43 per share, or 7.96%, to $32.95, on volume of 1,091,600 shares. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Shares of T-Mobile International AG (TMUS) were up +0.72 or +2.10 percent to $35.00 per share in Thursday’s pre-market, after it was revealed late yesterday that Sprint Corp. (S) was close to reaching an agreement for the acquisition of T-Mobile in a deal that could value the company for as much as $40 billion. (Source: InvestorGuide) Click here to read the full article

Reports: Apple Will Launch An iWatch And A iPhone 6 Phablet This Fall
Apple may release its first smartwatch in September alongside the iPhone 6, according to Cantor Fitzgerald's Brian White.  White says it will cost around $200 and be a companion device to the iPhone. (Source: Business Insider) Click here to read the full article

Your Money

How to Save Even When Money Is Tight
Saving for retirement is a big deal, but it doesn't help to say to people "just save more" if they've never been savers before. Saving skills take time and effort to learn. (Source: Yahoo Finance) Click here to read the full article

Buy This Not That: 3 Stocks To Buy And 1 To Short
I want to just start off with an overview by saying that I believe this remains a bull market at this point, and remains probably the most unloved bull market since I've been in the industry -- for over 25 years now. (Source: Forbes) Click here to read the full article

Published on Jun 6, 2014
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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