Arab Today, arab today stimulus hopes drive us stocks higher
Last Updated : GMT 13:45:24
Arab Today, arab today
Arab Today, arab today

Stimulus hopes drive US stocks higher

Arab Today, arab today

Arab Today, arab today Stimulus hopes drive US stocks higher

New York - AFP

US stocks ended a roller-coaster week at the top Friday on hopes that central banks will take coordinated action if Greece\'s crucial weekend election unleashes market turmoil. Wall Street nervously watched developments in Europe\'s rising debt crisis and braced for the Greek election Sunday, which could lead the debt-riddled country to exit the eurozone. Investors were also betting on additional stimulus from the Federal Reserve at next week\'s main event in the United States: the Federal Open Market Committee\'s policy meeting Tuesday and Wednesday. The Dow Jones Industrial Average of 30 blue chips advanced 1.7 percent for the week to 12,767.17 points. The broader S&P 500 added 1.3 percent to 1,342.84 and the tech-rich Nasdaq underperformed both, edging up a mere 0.5 percent to 2,858.42. Typical of the week\'s topsy-turvy volatility, stocks on Friday rallied \"on the perverse thought that no matter what comes out on Sunday night, it\'s going to be good news: either the austerity plan continues and they stay in the euro or they decide not to and the central banks have to pump like crazy,\" said Mace Blicksilver at Marblehead Asset Management. Disappointing US data on regional manufacturing and consumer confidence also spurred confidence that the Fed will announce more stimulus for the feeble economy. For the first time since April, the Dow posted back-to-back triple-digit daily gains on Thursday and Friday. \"Ahead of Sunday\'s all-important elections in Greece, investors cheered reports that major central banks are preparing a coordinated action to provide liquidity in an effort to improve lending conditions. With investors focused on hopes of stimulus measures, a batch of weak economic data was overlooked,\" said Wells Fargo Advisors. That was not the case Wednesday, when data showing weak US consumer buying in May hit stocks. May retail sales fell 0.2 percent from April, and excluding autos were down a heftier 0.4 percent, the Commerce Department reported. \"Considerable weakness is showing up on the consumer front as the May retail sales report is in line with weak job numbers, declining consumer confidence, a volatile stock market\" and other factors, said Chris Christopher at IHS Global Insight. The coming week\'s economic calendar is fairly charged, in addition to the keenly anticipated two-day Fed policy meeting. Investors are expected to closely follow the Group of 20 summit in Mexico Monday and Tuesday where the leaders of the major economies are due to grapple with Europe\'s crisis and other global ills. A look at May conditions in the depressed housing sector will come Tuesday, with housing starts and building permits numbers. Existing-home sales for May will be released Thursday, along with weekly jobless claims.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today stimulus hopes drive us stocks higher Arab Today, arab today stimulus hopes drive us stocks higher

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today stimulus hopes drive us stocks higher Arab Today, arab today stimulus hopes drive us stocks higher

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday