“The thought is that the Republicans and Democrats will soon work this out before Oct. 17,” Davis said, referring to the date the Treasury Department said the government’s borrowing authority would be exhausted. On Friday, House Speaker John Boehner reemphasized that he won’t let the U.S. government default on its debts. There were also reports that Boehner was looking to bring House Republicans together to pass some sort of budget compromise that would include raising the debt ceiling. Davis noted that it’s a positive sign that investors are buying stocks heading into a weekend, especially with how volatile the political climate in Washington has been.
Bank of America raised its rating on shares in the dental supplies maker to buy. Disney climbed 2 percent to $65.30 and Boeing climbed 1.7 percent to $117.20 for the two biggest gains in the Dow. Facebook rose 3.8 percent to $51.04 after saying it will sell advertising space on Instagram in its first effort to make money from its biggest ever acquisition. The stock has surged 92 percent in 2013. Twitter IPO In the most anticipated technology offering since Facebook, Twitter Inc. made public its S-1 prospectus yesterday and said its seeking to raise $1 billion.
1 To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Tech stocks: It’s all about Twitter Brett Molina, USA TODAY 8:39 a.m. EDT October 4, 2013 Logos for the microblogging site Twitter are displayed on their website. (Photo: Mary Turner, Getty Images) SHARE 12 CONNECT 16 TWEET 1 COMMENTEMAILMORE Investors are likely still poring over the S-1 filed by social network Twitter, part of the process required to become a publicly traded company. On Thursday, Twitter made its initial public offering available for view , providing the first details on how much money it makes and how many users flock to their service. Here’s a quick breakdown of Twitter by the numbers: 2,000.
Tech stocks: It’s all about Twitter
“The emerging-markets story is noticeably tarnished,” said Alan Gayle, chief investment officer at RidgeWorth front page Capital Management. “It’s one of those stories that I’m perfectly happy to sit on the sidelines and observe. I would say there are better opportunities in the developed markets.” Bulls acknowledge the challenges but say the developing world has several factors going its way long-term. “Emerging markets have faster growth and the stocks are cheaper,” said Laura Geritz, manager of the Wasatch emerging-markets small cap fund. “Over the long run, you should have better returns in these markets.” Financial maturation has made developing nations much less vulnerable to the sort of crises that hobbled them in the 1980s and 1990s. And there’s little doubt they’ll continue to grow.
What’s ahead for emerging-market stocks?
The blue-chip index slid 0.78% this week. The Nasdaq added 0.85% to 3,806.29. The tech-heavy index gained 0.54% across the past five days. Medical device stocks were gaining on hopes that the companies could be freed of the 2.3% sales tax. St. Jude Medical ( STJ ) gained 3.1% to $56.47, and Dentsply International ( XRAY )increased 3.1% to $44.54.