Prior to open on Friday, the stock market was initially positioned with stock
futures set for a low start. The Dow Jones, Nasdaq, and S&P 500 all posted in
the red several hours prior to the opening bell, but the tables turned at the
mid day point with the major market indexes all trending in the green. The Dow
Jones was higher by .41 percent at 11,480. The Nasdaq increased by .35 percent
at 2,616 and the S&P 500 gained .26 percent at 1,212. Reports revealing the
collaboration of central banks filtering funds into the European market to
support the struggling banking system proved to be a positive indicator to the
global market. As a result of the positive reports, investor confidence
strengthened and trending in the overall market was boosted. Positive news on
the economic calendar posted as well with the University of Michigans consumer
sentiment index posting at 57.8, topping the prior month at 55.7. At close the
major market indexes continued to trend in the green with the Dow gaining 75.91
points or 0.66% to 11,509.09. The Nasdaq increased 15.24 points or 0.58% to
2,622.31. The S&P 500 rose 6.90 points or 0.57% to 1,216.01. The positive
performance in the market led to a 5 day winning record for gains for the first
time in over two months. The Treasuries 10 year yield decreased by 0.01 to
2.08%. Oil lost 0.06 to $87.90 a barrel. Gold gained 0.20 to $1814.90. Author:
Pamela Frost
No comments:
Post a Comment