The New York stock market finished higher on Friday after a good week, which was marked by breaking through an important technical threshold ahead of the long-awaited inflation indicator and the meeting of the central bank of the United States (Fed), according to AFP.
- Dow Jones rose by 0.13%
- The Nasdaq rose 0.16%,
- The S&P 500 rose 0.12%.
On Thursday, the S&P 500 managed to close 20% above its October 12 low.
However, on Friday, the most representative index of the New York Stock Exchange could not exceed 4,300 points, which is a new important technical threshold.
“This week saw very few economic indicators and the market had to think for itself for the first time, which was positive,” commented Quincy Crosby of LPL Financial.
For Maris Ogg of Tower Bridge Advisors, the result was that “the worst is behind us,” meaning almost all of the monetary and banking crisis, although investors still expect the economy to worsen.
“We also saw the end of the US sovereign debt crisis, (…) which I think impacted the market more than people realised,” pushing stocks back, noted Chris Lowe of FHN Financial.
Source: Hot News
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