Monday’s Mid-Day Movers: 3 Stories Driving Markets
The major stocks were gaining Monday afternoon, with several major acquisitions poised to take place. As of 12 p.m.:
|DIJA: +0.22% to 15388.08||S&P 500: +0.29% to 1672.34||NASDAQ: +0.26% to 3508.18|
|Gold: +1.29% to 72.39||Oil: +0.94% to 22.59||U.S. 10-Year: +0.87% to 19.66|
Here are three stories helping shape the market on Monday afternoon:
1. Can Tumblr Save Yahoo? Marissa Mayer was charged with one simple task when she joined Yahoo (NASDAQ:YHOO) as its chief executive last July: reposition Yahoo as a technology company focused on the largest market opportunities for the next decade, which means boosting its audience, appealing to younger Internet users, and transitioning its platform to mobile. The web portal, which makes almost all of its revenue from online advertisements, faces the challenge of making money while attempting to resurrect its cool factor.
The company’s acquisition of Tumblr could take Yahoo a step closer to both of those goals… (Read more.)
2. Unemployment Rates Continue to Shock Doom-and-Gloomers: Unemployment rates are one measure of how well the economy is recovering, and 40 states experienced a drop in unemployment rates last month. This was the greatest drop since last November. In April, 165,000 jobs were added across the country, and the unemployment rate fell to a low of 7.5 percent, which is the lowest rate since December 2008.
On Friday, the Labor Department said that only three states increased unemployment rates: Louisiana, North Dakota, and Tennessee. Seven states had their unemployment rates stay the same… (Read more.)
3. Here Are the Euro Zone’s Woes in One Big Chart: The latest data from Eurostat shows that fewer than half of the euro zone’s economies are now growing. Real GDP in the EZ as a whole was 0.4 percent lower in the first quarter of 2013 than a year earlier. The worst news came from the bloc’s biggest economies:
Germany’s growth fell from 0.7 percent Y-o-Y in 2012 to 0.4 percent in Q1 2013. France slipped into negative territory with growth of -0.1 percent… (Read more.)