Friday Adds More Gains, Extreme Volatility Ends for Now (GOOG, HMC)

Extraordinary swings we’ve seen this week continued Friday, but at a much more minor size. Stocks finished up for the second day in a row , but not as much as we’ve seen lately. Economic reports in the US were mixed, as retail sales came in much higher than expected, but consumer sentiment slid to its lowest level since 1980. In Europe, four countries instituted a temporary short sale ban in an attempt to curb volatility. In corporate news, Google (GOOG) announced they will be released a series of games for Google+, another step toward competing with Facebook. And Honda Motors (HMC) announced they will open a factory in Mexico by 2014.

Word on the Street

• Stocks rise in afternoon trading for second consecutive winning day.
• US consumer spending drops to a more than anticipated to a three decade low.
• Expectations of global economic turmoil predict a reduction in oil prices.
• Honda Motors (HMC) announced plans to build a plan in Mexico by 2014.
• Google (GOOG) adds games to it’s Google+ network.
• European markets head upward on bank relief.
• Brazilian momentum makes AmBev (ABV) an enticing defensive play as the US economy swings wildly.

Interesting Tidbits

• Feel like you’ve hit the wall at your current company? Here’s how to decide whether or not it’s time for a new job.
• Old but good – the 100 rules for being an entrepreneur.

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