Income and Spending Decline, Stocks Follow: Market Recap
Stocks closed down on Friday following the release of some underwhelming economic indicators.
Income and Spending Decline: Is the Recovery Neglecting Main Street? Both consumer spending and personal income were weak in April, according to data released by the U.S. Bureau of Economic Analysis on Friday. The data, which fell short of analyst expectations, suggests that while consumer confidence is at post-recession highs, economic conditions have not yet totally caught up… (Read more.)
Is Europe’s Unemployment Worse Than We Thought? The roots of unemployment are growing deeper in Europe, and unless something happens soon, the future will not be much brighter. The number of people out of work reached a record high in April, with 12.2 percent of EU citizens in need of work. This figure represents 19.4 million people trying to find a job, and nearly a quarter of those were under the age of 25… (Read more.)
7 Reasons to Fear the Housing Bubble: Housing has seen a miraculous turnaround. Many, if not most, major indicators are pointing to a recovery that is gaining momentum quickly, with prices on the rise, construction in Florida on the up, and Americans even tapping into their 401k’s to get credit for a home. While some are taking this as a sign of strength in the U.S. recovery, caution in reading these indicators may not be a bad thing for a country looking to avoid a second housing collapse. All of the positive trends are occurring suspiciously quickly… (Read more.)
Here’s your Cheat Sheet to today’s top stock stories
Apple (NASDAQ:AAPL) stock is ripe for a buy, according to analysts. Wells Fargo (NYSE:WFC) analyst Maynard Um believes that now is a great time to put your money into Apple stock. Although some analysts are hedging their Apple bets until after they see what emerges at the Worldwide Developers Conference on June 10, Um is advising his clients not to wait… (Read more.)
Boeing Co.’s (NYSE:BA) latest project, the new 737 MAX passenger jet, will be 13 percent more fuel efficient than other 737 models, a figure higher than had previously been estimated. That’s is also good news for British travel company Tui Travel, which just bought 60 of the planes with an option for 90 more. The huge purchase is a boost for Boeing over rival aircraft maker Airbus… (Read more.)
Tesla (NASDAQ:TSLA) is feeling good after their luxury electric cars received rave reviews from CNBC’s “Squawk Box” and Consumer Reports magazine. The iconic ratings magazine gave the vehicle a near-perfect score of 99 out of 100 in its May issue, citing the electric car’s power, “pinpoint” handling, and its quiet, well-crafted interior. Chief Executive Officer Elon Musk claims that about 25 percent of people who test drive one of the company’s vehicles eventually purchase one… (Read more.)
Proctor & Gamble (NYSE:PG) announced last week that current CEO Robert McDonald will be stepping down, only to be replaced by his predecessor A.G. Lafley. The press release issued by P&G led with the news that A. G. Lafley, who led the company from 2000 to 2009, would be joining the company as Chairman and, President, and CEO… (Read more.)
General Electric (NYSE:GE) Chief Executive Officer Jeffrey Immelt has gotten swept up in the 3D printing craze, saying he considering the technology to be a worthy investment for the company. Immelt hopes that as 3D printing technology continues to develop it could eventually be used to build parts for GE jet engines… (Read more.)
Dell’s (NASDAQ:DELL) board has urged shareholders to vote for founder and CEO Michael Dell’s $24.4 billion buyout offer, which will be put to vote at a shareholder’s meeting scheduled for July 18. In a letter distributed to investors, Dell stated that it had considered continuing with or modifying the company’s business plan, changing its dividend, selling to a strategic buyer, or spinning off parts of the business, but believes Dell’s bid is superior to other options… (Read more.)
From Microsoft to Marijuana: May the Best Brand Win: In 2009, Jamen Shively apparently grew bored of his life as a corporate strategy manager at Microsoft. Presumably underwhelmed by the prospects of a long career at the top of America’s highly competitive and rapidly-evolving tech industry (really, who wouldn’t be?), Shively quit his job and began focusing his energy on an industry with just a little bit more character to it — something with fewer established players, more room to grow, and the opportunity to earn enormous returns at the cost of high risk: marijuana, medical or otherwise… (Read more.)
Don’t Miss: The ‘Recovery’ is Weaker Than You Think.