January 31, 2014 – Business News – Financial News – Stock News –NYSE — Market News 2014
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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2014
Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2014
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This week’s wrap up from RK Walker:
Markets this week were very turbulent as Wall Street digested lots of news, including last week’s drop in emerging markets’ currency.
On Monday the Commerce Department said sales of new U.S. single family homes fell 7% to 414,000 units in December. This was lower than analysts’ expectations. Durable goods orders fell 4.3% for December, considerably below expectations, pointing to a possible loss of momentum in the manufacturing recovery. One thing that didn’t weaken was the Case-Shiller home price index, up 13.7% year over year for November.
Consumer confidence also increased to 80.7 for December, up from 77.5 and stronger than expected. On Wednesday, the Fed announced they would continue tapering bond purchases another $10 billion monthly starting in February, lowering the total purchase amount to $65 billion per month.
Although the decision was expected, markets dropped on the news. On Thursday, the fourth quarter GDP was released and it showed the economy grew at 3.2%, down from third quarter’s 4.1% rate. This, along with some upbeat earnings news from Facebook, sparked a rally. Jobless claims for the week ending January 25 came in higher than expected at 348,000, up 19,000.
On Friday, the Commerce Department said that personal income remained unchanged for December, while consumer spending rose .4%. However, emerging market worries along with some companies reporting lower earnings guidance contributed to a substantial opening drop.
January 31, 2014 Weekly Stock Market Wrap up:
Facebook, Inc. (NASDAQ: FB)
Apple Inc. (NASDAQ: AAPL)
Yahoo! Inc. (NYSE: YHOO)
Caterpillar Inc. (NYSE: CAT)
Business News – Financial News – Stock Exchange – New York Stock Exchange — Wall Street — Market News 2014
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