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Developments in Greece helped stocks in the United States, closing a volatile quarter marked by debt concerns in the euro zone and by a struggling economic recovery at home.
Worry about lack of substantive progress towards a blueprint for tackling the euro zone debt crisis kept investors on edge, traders said. In the United States, consumer inflation rose more than expected in May.
Monahan contends the stock has over-reacted to the impact of recent changes in Google’s search algorithm that were designed to reduce the prominence of lower quality content sites in search results. The analyst contends the move likely will have a single-digit impact to the company’s earnings, but has resulted in a 40% drop in the stock price since mid-April, leaving the stock 20% below its IPO price. He contends the recent price of the shares “reflects future negative changes that are unlikely to materialize.”
Senh: Interesting that the one site that Google supposedly targeted with their previous algorithm has almost no effect on the site's traffic.
Stocks are shaking off a two-week slump after a report on retail sales wasn't as bad as economists had predicted... The government said Tuesday that retail sales edged down 0.2 percent last month, the first decline in nearly a year. That was slightly better than analysts were expecting. Americans bought fewer cars during the month, but the decline reflected temporary supply chain disruptions caused by the earthquake and tsunami disaster in Japan. Excluding weak car sales, retail sales rose 0.3 percent.
New doubts about the economic recovery's strength knocked the Dow Jones industrial average down almost 200 points Wednesday... The ISM's manufacturing index fell to 53.5 in May from 60.4 in April... And private employers added just 38,000 jobs in May, down from 177,000 in April, according to payroll processor ADP.
Shares of American International Group Inc fell more than 3 percent on Wednesday after the insurer and the U.S. Treasury sold $8.7 billion worth of stock.
Congress should take steps to limit speculation in oil markets, which has boosted prices as much as 30 percent, a new report from the Democratic staff of a House of Representatives oversight committee said on Monday.