Arab Today, arab today us stocks finish week with gains despite ukraine fears
Last Updated : GMT 08:07:11
Arab Today, arab today
Arab Today, arab today

US stocks finish week with gains despite Ukraine fears

Arab Today, arab today

Arab Today, arab today US stocks finish week with gains despite Ukraine fears

New York - AFP

US stocks finished higher for the week, even as intensifyingconcerns over Ukraine partially offset positive sentiment from some strongeconomic reports and accelerating Wall Street deal-making.All three indices posted increases. The Dow Jones Industrial Average rose 151.43(0.93 percent) to 16,512.89, while the broad-based S&P 500 advanced 17.74 (0.95percent) to 1,881.14.The tech-rich Nasdaq Composite Index notched the biggest increase for the week,adding 48.34 (1.19 percent) at 4,123.90.The US Federal Reserve, as expected, continued a plan to gradually taper its bond-buying stimulus program, while maintaining ultra-low interest rates. But the US central bank also released a fairly sunny outlook, saying economicactivity "has picked up recently." The Fed's remarks helped push the Dow to its firstrecord of 2014 on Wednesday.The Commerce Department on Thursday said gross domestic product grew by astrikingly tiny 0.1 percent in the first quarter, but markets largely disregarded thefigure as backward-looking and skewed by exceptionally cold weather thatdepressed activity. Wall Street generally smiled on Friday's US labor report, which showed the economyadded 288,000 jobs in April, far above the estimates and marked the fastest jobgrowth in more than two years."It feels that the economy is gaining steam, that growth is going to accelerate and,by and large, the Fed will remain very accommodative," said Bill Lynch, director ofinvestment at Hinsdale Associates.Yet stocks closed the week on a sour note, with all three indices posting lossesFriday following a surge of violence in Ukraine and new threats of sanctions onRussia by President Barack Obama."This Ukraine thing keeps grinding along and it doesn't appear it's going to endanytime soon," said Brent Schutte, market strategist at BMO Global AssetManagement."People are worried this could turn into something a little bit bigger."Schutte said Wall Street banks are producing more reports on Ukraine and organizing  conference calls on the situation, a sign of rising concern.The week's biggest corporate news included pharmaceutical giant Pfizer's thus-farunsuccessful effort to woo AstraZeneca in a deal worth $100 billion or more. Pfizer opened the week with a dramatic public announcement of its interest inbuying the British company, outlining a range of advantages from a beefed-upproduct pipeline to lower taxes.Pfizer raised its bid on Friday, but AstraZeneca said no for a third time, calling thelatest $106 billion offer "inadequate.""It seems the main driver behind the deal is the desire of Pfizer to shelter $70 billionof its cash pile from US taxation rules, and that doesn't seem a sufficiently goodreason to do a deal if you are AstraZeneca," said analyst Michael Hewson of CMC MarketsBut other major deals advanced, keeping 2014 on track to be a strong year formergers and acquisitions. The board of French industrial giant Alstom accepted a $17 billion bid from GeneralElectric for its energy assets, giving momentum to a transaction that some Frenchgovernment officials have criticized.Also, US nuclear power generator Exelon announced a deal to buy power companyPepco Holdings for $6.83 billion in cash.Other major corporate stories included Ford Motor's announcement that MarkFields would take over on July 1 as chief executive from the departing Alan Mulally.Bank of America said it uncovered incorrect data submitted to regulators for its most recent "stress test," an announcement that immediately prompted the Fed tohalt the bank's plans for paying dividends and buying back shares.While the balance of earnings reports continued to best expectations, there were afew noteworthy exceptions. Perhaps the biggest was Twitter, which sank to an all-time low after reporting average monthly users that lagged expectations.Next week's agenda includes a handful of major earnings reports, including AIG,Walt Disney company and Pfizer, which will undoubtedly face questions on the lateston its AstraZeneca campaign.Economic releases include the Institute for Supply Management report on theservices sector and the US trade balance. Fed Chair Janet Yellen is also scheduled fora pair of appearances before congressional committees.

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 us stocks finish week with gains despite ukraine fears Arab Today, arab today us stocks finish week with gains despite ukraine fears

 



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 us stocks finish week with gains despite ukraine fears Arab Today, arab today us stocks finish week with gains despite ukraine fears

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer 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