Weekly Market Wrap: June 27, 2014
Friday, June 27, 4:39 PM ET

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Most actively traded stocks include Twitter (TWTR) down 1.2%, Apple (NASDAQ:AAPL) up 0.7%, Bank of America (NYSE: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 ounce.

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 available for

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 Corporation (NYSE:LMT) 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 (NYSE:CPB) 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 (NYSE:LEN) 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.

Boeing (NYSE:BA) 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 (NASDAQ:COST) 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 (NASDAQ: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.

For MarketNewsVideo.com, I'm Tracey Fitzpatrick.