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US stocks drop to end May
Thursday, May 31, 2012
U.S. stocks dropped on May 31, finishing off the biggest monthly decline for the Standard and Poor's 500 Index since September, according to Bloomberg.
The drop came due in part to disappointment surrounding U.S. economic reports and despite optimism that Greece will remain in the Euro, the news source stated. The S and P 500 dropped 0.2 percent to 1,310.46 at 4 p.m. New York time.
“This is a chokepoint for Greece,” Peter Sorrentino, who helps oversee $14.7 billion at Huntington Asset Advisors in Cincinnati, told the news source. “They have debt payments coming up. The question gets pushed to a resolution at this juncture. It would be expensive for the rest of Europe to have Greece exit.”
Verizon Communications, the second largest U.S. phone company, recently announced it will begin offering five speeds of FiOS broadband internet service starting in June. The move is expected to help the company better position itself against its competitors.
Investors who want to make the stock market work for them while diversifying their financial portfolios may be able to do so through online investment opportunities.
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