The twenty sixth trading week of 2014 comes to a close with US
markets mixed in late Friday afternoon trading.
Most actively traded stocks include Twitter (
) down 1.2%, Apple (AAPL) up 0.7%, Bank of America (BAC) down 0.3%
and GoPro (GPRO) up 16.7%.
Hi. I'm Tracey Fitzpatrick. Welcome to the 'Weekly Market Wrap' for
June 27, 2014.
The Dow Jones Industrial Average and S&P 500 are lower for the
week, and the NASDAQ Composite is currently higher by about 0.5%
for the period.
Crude oil futures are lower this week, trading at $105.50 per
barrel on Friday afternoon.
And Gold futures are higher for the week, trading at $1319.07 an
In economic news, sales of new single-family houses in May 2014
were at a seasonally adjusted annual rate of 504,000, according to
estimates released jointly by the U.S. Census Bureau and the
Department of Housing and Urban Development. This is 18.6 percent
above the revised April rate of 425,000 and is 16.9 percent above
the May 2013 estimate of 431,000.
The median sales price of new houses sold in May 2014 was $282,000;
the average sales price was $319,200. The seasonally adjusted
estimate of new houses for sale at the end of May was 189,000. This
represents a supply of 4.5 months at the current sales rate.
Real gross domestic product - the output of goods and services
produced by labor and property
located in the United States - decreased at an annual rate of 2.9
percent in the first quarter of 2014 according to the "third"
estimate released by the Bureau of Economic Analysis. In the fourth
quarter of 2013, real GDP increased 2.6 percent.
The GDP estimate is based on more complete source data than were
the "second" estimate issued last month. In the second estimate,
real GDP was estimated to have
decreased 1.0 percent. With the third estimate for the first
quarter, the increase in personal consumption expenditures was
smaller than previously estimated, and the decline in exports was
larger than previously estimated.
The decrease in real GDP in the first quarter primarily reflected
negative contributions from private inventory investment, exports,
state and local government spending, nonresidential fixed
investment, and residential fixed investment that were partly
offset by a positive contribution from PCE. Imports, which are a
subtraction in the calculation of GDP, increased.
In highlights of corporate dividend news, Lockheed Martin
) board of directors has authorized a third quarter 2014 dividend
of $1.33 per share. The dividend is payable on Sept. 26, 2014 to
holders of record as of the close of business on Sept. 2, 2014.
Campbell Soup Company (
) declared a regular quarterly dividend on its capital stock of
$0.312 per share. The quarterly dividend is payable Aug. 4, 2014,
to shareholders of record at the close of business July 8, 2014.
Lennar Corporation (
) has declared a quarterly cash dividend of $0.04 per share for
both Class A and Class B common stock payable on July 24, 2014 to
holders of record at the close of business on July 10, 2014.
) declared a regular quarterly dividend of seventy three (73) cents
per share. The dividend is payable Sept. 5, 2014, to shareholders
of record as of Aug. 8, 2014.
Costco Wholesale (
) announced that on June 22, 2014, its Board of Directors declared
a quarterly cash dividend on Costco common stock of $.355 per
share. The quarterly dividend is payable July 25, 2014, to
shareholders of record at the close of business on July 11, 2014.
And, Kraft Foods Group (KRFT) has declared a regular quarterly
dividend of $0.525 per share of common stock, payable on July 25,
2014, to shareholders of record on July 11, 2014.
This is the 'Weekly Market Wrap' for Friday, June 27, 2014. Please
join us on Monday for the Week Ahead Market Report.
VIDEO: Weekly Market Wrap: June 27, 2014