Midway through trading Friday, the Dow plunged 0.29 percent to
15,039.39. The NASDAQ rose 0.21 percent to 3,416.32, while the
S&P fell, declining 0.16 percent to 1,624.02.
Top Headline The S&P 500 index rose for the third straight
week, with US stocks rising on Friday.
All this was spurred by the Federal Reserve Chairman
discussing measures to address the risk in the financial
Speaking at the Chicago Federeal Banking Conference on Friday
morning, Ben Bernanke said that the Federal Reserve was keeping a
close watch on the potential risks associated with low interest
Equities Trading UP Dataram Corporation (NASDAQ:
) shot up 53.31 percent to $4.65 after Dataram announced that it
was entering into an expanded partnership with Advanced Micro
Devices, Inc (NYSE:
Shares of Unilife Corporation (NASDAQ:
) got a boost, shooting up 48.11 percent to $2.74. Unilife
reported a narrowing of its fiscal Q3 loss while announcing that
a previously announced 15-year pharma contract was expected to
bring in up to $110 million in cumulative revenues for the
Restoration Hardware Holdings, Inc (NYSE:
) was also up, gaining 26.98 percent to $51.11. Restoration
Hardware has raised its Q1 guidance above the Capital IQ
Equities Trading DOWN Affymax, Inc (NASDAQ:
) was down, falling 27.90 percent to $1.31 after the company
announced that it had been experiencing significant operating
losses since its inception and was unlikely to be able to
AutoNavi Holdings Limited ((NASDAQ:
) were down 12.12 percent to $12.98. The largest ecommerce
company in China, Alibaba Group, has announced that it intends to
acquire a 28% stake in AutoNavi in a bid to boost its
EMCORE Corporation (NASDAQ:
) shares tumbled 14.92 percent to $3.65 after the company
reported its Q2 results with a 14.3% decrease in revenues as
compared to the previous quarter.
Commodities In commodity news, oil traded down 2.68 percent to
$93.81, and gold declined 3.18 percent to $1,421.90.
Silver traded down 2.56 percent Friday to $23.30, while copper
rose 0.07 percent to $3.34.
Eurozone European shares were also higher overnight on the
back of Asian strength. The Spanish Ibex Index rose 0.34 percent
and the Italian FTSE MIB Index rose 1.23 percent. Meanwhile, the
German DAX gained 0.53 percent and the French CAC 40 added 0.51
percent while U.K. shares gained 0.34 percent.
Economics Chairman of the Federal Reserve, Ben Bernanke, spoke
at the Chicago Federal Banking Conference on Friday morning,
saying that the central bank was taking measures to address the
potential risk associated with the low interest rates.
The monthly budget report for March by the US Treasury stood
at $106.5 billion, representing a deficit. So far, 2013 has
witnessed an improvement in the government's deficit, which now
stands at a whopping $600.5 billion. This figure represents a 23%
decline six months into the year.
Esther George, President of the Kansas City Federal Reserve
Bank is schedule to speak on the economy in Jackson, Wyoming at
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