The twelfth trading week of 2014 comes to a close with Friday
morning's momentum weakening as we approach the close.
Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for
March 21, 2014.
The Dow Jones Industrial Average and S&P 500 are both higher
for the week, and the NASDAQ is relatively flat, to slightly up for
the week as we approach Friday's close.
Crude oil futures are higher this week, trading at $99.50 per
barrel on Friday afternoon.
And Gold futures are significantly lower this week, trading around
$1336.07 an ounce in Friday afternoon trading.
In economic news, the Fed said that information received since the
Federal Open Market Committee met in January indicates that growth
in economic activity slowed during the winter months, in part
reflecting adverse weather conditions. Labor market indicators were
mixed but on balance showed further improvement. The unemployment
rate, however, remains elevated. Inflation has been running below
the Committee's longer-run objective, but longer-term inflation
expectations have remained stable. The FOMC decided to make a
further measured reduction in the pace of its asset purchases.
Beginning in April, the Committee will add to its holdings of
agency mortgage-backed securities at a pace of $25 billion per
month rather than $30 billion per month, and will add to its
holdings of longer-term Treasury securities at a pace of $30
billion per month rather than $35 billion per month.
In corporate dividend news this week, Guess? (
) has approved an increase of its quarterly cash dividend to $0.225
per share on the Company's common stock, a 12.5% increase over its
most recent quarterly dividend. The dividend will be payable on
April 18, 2014 to shareholders of record at the close of business
on April 2, 2014.
Oracle Corporation (
) declared a quarterly cash dividend of $0.12 per share of
outstanding common stock. This dividend will be paid to
stockholders of record as of the close of business on April 8,
2014, with a payment date of April 29, 2014.
Intel Corporation's (
) board of directors has declared a quarterly dividend of 22.5
cents per share (90 cents per share on an annual basis) on the
company's common stock. The dividend will be payable on June 1,
2014, to stockholders of record on May 7, 2014.
JPMorgan Chase & Co. (
) declared a quarterly dividend of 38 cents per share on the
outstanding shares of the corporation's common stock. The dividend
is payable on April 30, 2014, to stockholders of record at the
close of business on April 4, 2014.
And, Iron Mountain (
) declared a cash dividend of $0.27 per share on the common stock
of the company, payable on April 15, 2014 to shareholders of record
at the close of business on March 25, 2014.
This is the 'Weekly Market Wrap' for Friday, March 21, 2014. Please
join us on Monday for the Week Ahead Market Report.
VIDEO: Weekly Market Wrap: March 21, 2014