Job Openings At Highest Level Since 2001; Yellen Avoiding Economic Downturn
U.S. stocks ended the day slightly lower despite the good jobs report. Job openings increased for the fifth straight month in June, reaching their highest level since early 2001. The creator of Candy Crush, King Digital (KING) shares were down 20% in afterhours trading after missing their revenue projections. Shares are down $4.20 to $14 a share, which is drastically down from their IPO price of $22.50 a share. Yellen has been speaking recently about her fear of another economic downturn. She has staked her tenure as chair of the Federal Reserve on a simple principal: she would rather fight inflation than risk another economic downturn.This principle is the reason behind not raising interest rates too early.
Word on the Street
- Yellen fears another economic downturn.
- Germany's economy may be in trouble.
- Treasury deficit down slightly to $94.6 billion.
- June job openings hit 13-year high.
- Lending activity rose in Q2.
- Kate Spade (KATE) shares fell 26%, biggest loser on Wall Street.
- Intercept (ICPT) stock rockets on earnings, positive drug results.
Published on Aug 12, 2014By InvestorGuide Staff