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7 Mar 2014
US stocks close the week with decent gains; S&P 500 at new record highs
FXStreet (San Francisco) - Wall Street closed Friday with a mixed note as the Dow and S&P finished higher but the Nasdaq was negative on the day. However, the week reported decent gains in the three major indexes as investors digested well Ukraine crisis and assumed weather conditions were really severe in the past two months.
Friday employment report surprised market to the upside and let the investors to think that weather would be the reason behind recent slowdown in the US economic data. Friday trading was dominated by profit taking ahead of the weekend with investors favoring to be out of market in case new developments in Europe.
The Dow Jones advanced 27.62 points or 0.17% to finish the week with 0.79% gains at 16,449.51; The S&P managed to recover earlier losses and it closed positive on the day with 1.01 points or 0.05% gains in the day and 1% profit in the week.
The Nasdaq declined 15.90 points or 0.37% in the day to close the session at 4,336.22; the Composite advanced 0.65% in the weekly basis.
Friday employment report surprised market to the upside and let the investors to think that weather would be the reason behind recent slowdown in the US economic data. Friday trading was dominated by profit taking ahead of the weekend with investors favoring to be out of market in case new developments in Europe.
The Dow Jones advanced 27.62 points or 0.17% to finish the week with 0.79% gains at 16,449.51; The S&P managed to recover earlier losses and it closed positive on the day with 1.01 points or 0.05% gains in the day and 1% profit in the week.
The Nasdaq declined 15.90 points or 0.37% in the day to close the session at 4,336.22; the Composite advanced 0.65% in the weekly basis.