Dow Jones Industrial Average
October 17, 2011 by staff
U.S. stock indexes ended with strong gains on Friday as investors welcomed strong earnings from Google and better than expected retail sales data.
The Dow Jones Industrial Average and Nasdaq moved in positive territory for the year. The S & P 500 came close to emulating them. On the other hand, the Dow Jones capped his week-long streak in six months.
The Dow Jones rose 166.36 points, or 1.5%, to close at 11,644.49. The blue-chip index advanced 4.9% in the week, scoring his third consecutive weekly gain.
The S & P 500 gained 20.92 points, or 1.7%, to close at 1224.58, with energy companies, natural resources and technology leader in earnings among 10 industry groups.
Counting a second weekly gain, the S & P 500 rose 6% in the week, its biggest weekly rise since July 2009.
The Nasdaq composite index 47.61 points, or 1.8%, to close at 2667.85. 7.6% was recovered in the week.
Year to date, the Nasdaq 0.6%. It was the biggest weekly gain in the Nasdaq since March 2009.
Volume was light. For every action down more than five rose in the New York Stock Exchange, where 847 million shares traded, volume consisting approached 3.7 billion shares.
The dollar fell against the euro and British pound, but gained against the Japanese yen.
Oil for November delivery added 3.08 to 87.31 and and barrel.
Gold futures for December delivery gained 13.50 to 1682.00 and and ounce.
The price of U.S. Treasuries to 10 years declined slightly, pushing the yield up to 2.3%.
In Paris, the finance ministers and central bankers from the Group of 20 began discussions on debt problems in Europe, with reports officials think of writing as much as 50% of Greek bonds.
On Thursday, Slovakia became the last of the 17 eurozone countries to approve a plan to expand the powers of a bailout fund for troubled banks and European governments.
This development pushed European shares higher on Friday.
Investors seemed largely ignored degrade Standard & Poors night in Spain’s credit rating.
Treasury Secretary Timothy Geithner reiterated U.S. support to help Europe meet its sovereign debt crisis.
U.S. stocks erased some of their profits after the Thomson Reuters / University of Michigan preliminary consumer sentiment fell to 57.5 in October from 59.4 in September.
Meanwhile, the Commerce Department reported a 1.1% increase in retail sales in September, the largest increase since February after a 0.3% in August, with the latter figure revised up from the previous estimate.
The Bureau of Labor Statistics reported export prices rose 0.4% and import prices rose 0.3% in September.
Google shares rallied 5.9% a day after reporting better than expected sales for the third quarter.
Thousands of customers lined up outside Apple stores waiting to become one of the first iPhone buyers 4s. Apple shares rose.
Before the opening of the market, Mattel reported strong sales of Barbie dolls, which helped boost revenue than expected in the third quarter.
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