Friday Morning Reading

Dec 27, 2013   //   by Profitly   //   News  //  Comments Off on Friday Morning Reading

What I’m reading this morning:

U.S. 10-year treasury yield crossed the 3% level on Friday, the highest since July of 2011. A stronger set of economic news and the Fed starting to taper their bond purchases weighed on sentiment. Yields rise as prices fall. (FT)

Shares of social network website Twitter continued to rise. The stock now sits above $70, or about 170% higher than its IPO price of $26. Shares are trading lower this morning, however, after investment firm Macquarie downgraded TWTR to underperform from neutral.  (WSJ)  (Morningstar)

Stocks continue to rally as 2013 winds down. Several economic data announcements, such as new home sales and durable goods orders, pointed to a strong end to what has been a great year for equities.  (WSJ)

Despite a strong year on Wall Street, many individual investors are still sitting on the sidelines and have missed out on the S&P’s 25%+ return.  (WSJ)

Shipping companies saw continued fallout after several packages that were supposed to arrive before Christmas failed to make it under the Christmas tree. Even though UPS had an extra 23 chartered aircrafts, they were unable to handle the roughly 7.75 million packages that were in their network on Monday. (WSJ)

After a 13-year bull run, gold has logged its first annual decline. Not only did it fall, but it fell hard in a year where equities seemed to be the place with the best returns. It is currently down roughly 29% with only a few trading days left in 2013.  (MarketWatch)