Stock market close, Aug. 8, 2014: The DJIA and other U.S. markets soared on Friday after positive economic data indicated fundamental growth in the domestic economy. According to reports, American workers were highly productive in the second quarter, while labor costs were on the rise. The news is a welcome change from the slew of negative data that rocked the first quarter.
The production rise offset continued concerns about escalating geopolitical concerns in Ukraine and news that U.S. forces have been authorized by the president to bomb regions of Iraq held by ISIS militants.
Here's the scorecard from today's trading session:
And here are the top stories from the stock market today:
Ebola Treatment: Shares of Tekmira Pharmaceuticals Corp. (Nasdaq: TKMR) soared more than 37% today on news that the U.S. Food and Drug Administration (FDA) is getting closer to approving its anti-Ebola drug to treat humans diagnosed with the deadly disease. The outbreak in Africa has forced the U.S. Centers for Disease Control and Prevention (CDC) to declare a state of emergency. Numerous Americans have been tested across the country after returning from nations where the outbreak continues to spread.
Amazon Targeted: Shares of McDonald's Corp. (NYSE: MCD) were up slightly this afternoon despite concerns that the company's sales in China may have stalled. MCD is battling a losing fight to protect its brand image after the firm was suspected of selling expired meat, chicken, and fish from a local supplier. Overall, the company announced same-store sales slipped 2.5%. The bulk of this decline came in the Asian region, where it saw a June decline of 7.5%.
USA, USA, USA: Despite rising geopolitical concerns over Iraq and Libya, the Organization of the Petroleum Exporting Countries slashed its 2014 outlook, citing strong global supplies of oil and gas. OPEC stated that fading U.S. demand, due to both the fracking boom across the country and reduced demand for automotive gasoline, is a primary driver. OPEC has yet to make any comment on whether it would affect their 2015 outlook as well.
Your Credit Is Changing: The Chicago Tribune reported that Americans' FICO scores are going to be recalibrated to provide greater relief for those who have paid off past debts. The recalibration will also separate medical and non-medical debts. According to the report, medical debt that has been handed off to collection agencies had a reduced impact on a person's overall credit score. It is expected that a person with medical debts owed to collections will see a rise in their score by an average of 25 points.
Now our experts share some of the most important investment moves to make based on today's market trading - for Money Morning Members only:
This Northern Metals Boom Will Give Us More Than 10 Times the Returns of the S&P 500: In the last three years, junior miners have as a group lost about 58% in share value, while the S&P 500 has gained 52%. But it's looking like we're entering a brand new boom phase, with junior gold miners shooting up as much as 45.8% this year - with a lot more in store... Here are two to consider...
Put These Investing Classics on Your Vacation Reading Short List: As we move August , we're hitting prime vacation season. If you're like Money Morning Executive Editor Bill Patalon, you want to use that time to catch up on your reading. Consider including a business book or two from Bill's list - the time invested will have a long-term payoff...
This Miracle Material Is Our Secret Weapon in the Coming Energy War: China and Russia's $400 billion natural gas deal was one of the first shots in their energy war against the United States and Europe. But Money Morning Defense & Tech Specialist Michael A. Robinson discovered one company's products that are a big part of the technology that provides our best defense in this coming war. And that makes this a "defense" tech opportunity one we can feel proud about profiting from...
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.