Investors sent the markets higher today following positive economic news regarding the health of the US economy. The Commerce Department reported second quarter GDP grew by 2.5%, topping previous estimates of just 1.7%, and the Labor Department reported initial jobless claims fell by 6,000 to a seasonably adjusted rate of 331,000 claims.
In corporate news, Vodaphone (NASDAQ:VOD) confirmed that it is engaged is discussions with Verizon (NYSE:VZ) to sell its 45% stake in the Verizon Wireless joint venture. It is believed that Verizon would want to purchase the wireless unit for about $100 billion, while Vodaphone would like to sell the stake for $130 billion.
After the markets close today, investors will review earnings reports from Krispy Kreme Doughnuts (NYSE:KKD) and Salesforce.com (NYSE:CRM).
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.