S&P 500 Posts Biggest Weekly Gain of 2014

Weekly Wrap Up


Stocks closed higher on Friday, with the S&P 500 posting its biggest weekly gain of 2014. Oil prices hit a 27-month low this week as the price of crude oil fell to nearly $80 a barrel. Some economists believe that crude oil prices can and will drop even further, possible down to $70 a barrel.

Corporate earnings reports continued to be released this week with mixed results. Yahoo (YHOO) surpassed Wall Street's expectations in its earning report. The internet company earned a whopping 52 cents a share, significantly higher than the 30 cents a share that analysts were expecting.
Amazon (AMZN) however did not fare quite as well. Amazon warned ahead of time that they were going to post a massive loss in Q3, and they did not disappoint. The technology giant posted a net loss of $437 million in Q3, significantly higher than the $41 million loss it experience in Q3 of 2013.

Economic News


NewsWatch: Why One Economist Says No Recession Until At Least 2016
It’s going to take a little bit more than Ebola, eurozone pessimism and a rising U.S. dollar to turn David Rosenberg into a bear. (Source: Market Watch) Click here to read the full article

September New Home Sales Rise 0.2% As Housing Recovery Chugs Along
Sales of newly-constructed single-family homes inched up nearly imperceptibly in September over August, as the housing market chugs along in a slow, unspectacular recovery. (Source: Forbes) Click here to read the full article

Business News


(IBM)
Shares of International Business Machines Corp. (IBM) were trading down -12.30 or -6.76 percent to $169.75 per share in pre-market trading this morning, after the company announced it would pay $1.5 billion to GlobalFoundries to get rid of the company’s losing chip division. (Source: InvestorGuide) Click here to read the full article

(CMG)
Shares of Chipotle Mexican Grill Inc. (CMG) were down -33.03 or -5.06 percent to $620.00 per share in premarket trading this morning after the company announced better than expected third quarter earnings after the market close yesterday. (Source: InvestorGuide) Click here to read the full article

(LMT)
Shares of the Lockheed Martin Corporation (LMT) were up +0.56 or +0.31 percent to $181.23 in premarket trading this morning, after news yesterday that the company had reached an agreement with the U.S. Department of Defense for the delivery of another 43 F-35 fighter jets. (Source: InvestorGuide) Click here to read the full article

Technology Focus


(NOK)
Shares of Nokia Corp. (NOK) were up +0.70 or +8.83 percent to $8.63 per share in pre-market trading this morning, after the company released better than expected third quarter earnings early this morning. (Source: InvestorGuide) Click here to read the full article

Can Facebook Live Up To The Hype?
But satisfying Wall Street's extremely high expectations for his company when Facebook reports its third quarter results on Tuesday may prove to be even more difficult. (Source: CNN Money) Click here to read the full article

Your Money


(k)
Starting in 2015, contribution limits for the tax-deferred retirement accounts will increase by $500 to $18,000, the Internal Revenue Service announced Thursday. (Source: CNN Money) Click here to read the full article

Investing: Can You Retire on $1 Million?
If you read any financial advertising, you know that your savings are inadequate, and you're likely to freeze to death in the dark a few weeks after retirement. (Source: USA Today) Click here to read the full article

Published on Oct 24, 2014
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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