August 30, 2013 - Business News - Financial News - Stock News --NYSE -- Market News 2013-2014
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Business News - Financial News - Stock News -- New York Stock Exchange -- Market News 2013-2014
Business News - Financial News - Stock Exchange -- Wall Street -- Market News - New York Stock Exchange 2013-2014
We start off the week with Secretary of State John Kerry’s statement that Syria used chemical weapons on its opposition movement . This set the tone for most of the week, with the market nervous on fears of military intervention in the Middle East.
Orders for durable goods plunged in July. The Commerce Department reported that orders for long-lasting U.S. manufactured goods dropped 7.3%, the biggest decline since last August, ending three consecutive months of gains.
The Conference Board released its consumer confidence index for August and it increased to 81.5, up from 81. This is close to a 5.5 year high. A reading of 90 signals a healthy economy.
Home prices in Case-Shiller’s 20-city index were up 2.2% month-month and 12.1% year-year.
Pending home sales declined 1.3% in July according to the National Association of Realtors, while weekly mortgage applications fell for the third straight week.
Jobless claims dropped 6,000 to 331,000, about what analysts expected, but the big news was the upward revision of the second quarter GDP from 1.7% to 2.5%. The main reason for the change was an upward revision for net exports.
The Commerce Department reported Friday that personal income and consumer spending were basically flat, both only rising .1% in July. In addition, the Personal Consumption Expenditures Index, or PCE, showed a yearly rate of inflation of only 1.4%.
Now let’s review some individual stocks.
Facebook (NASDAQ: FB)
Zale Corporation (NYSE: ZLCZ)
Catalyst Pharmaceuticals Partners Inc. (NASDAQ: CPRX)
ExxonMobil Corporation (NYSE: XON)
Chevron Corporation (NYSE: CVX)
Business - Financial - Stock Exchange -- Wall Street -- Market News 2013 -- 2014
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