The major stock indices ended the trading session mixed today after jobless claims spiked to 379,000 for the week of December 14th, well above estimates of 337,000 that analysts were expecting and up from 368,000 the previous week. The negative news on the job market came just one day after the Federal Reserved cited improvements in employment conditions as it announced an initial cutback in its $85 billion dollar-a-month bond buying program.
Facebook (FB) shares took a hit and bounced back to close down less than 1% after founder and CEO Mark Zuckerburg announced he would sell 41.4 million shares as part of a 70 million share offering by the social networking company. Zuckerburg’s shares are worth about $2.3 billion dollars. The sale will reduce Zuckerburg’s voting power to 56.1% from 58.8%.
Target (TGT) shares were also lower today after the company confirmed that someRead More »from Stocks mixed after big Fed rally; jobless claims spike; Target, and Tesla shares sell off