NST Online Business Times : latest

Posted: 12 Aug 2011 06:42 PM PDT

NEW YORK: US markets ended higher Friday as trade calmed at the end of one of the most turbulent weeks on record.

Adding to Thursday's 423-point rebound, the Dow Jones Industrial Average closed up 125.71 points (1.13 per cent) to 11,269.02.

The broader S&P 500 was up 6.17 points (0.53 per cent) at 1,178.81, and the Nasdaq Composite gained 15.30 points (0.61 per cent) to 2,507.98.

The markets stayed in positive territory all day after a week characterised by sudden 400-point swings and daily losses and gains of some five per cent.

"Some of the fears that we had in the early part of the week have subsided to some extent, but we are certainly not out of the woods," said Michael James of Wedbush Securities.

"The only thing that you can be certain of is that significant volatility is going to continue in the near term."

The Dow's blue chips were led by a 4.9 per cent gain by Boeing and 4.1 per cent from Hewlett-Packard.

JPMorgan Chase lost 2.13 per cent.

On the Nasdaq, Yahoo was a big gainer, adding 5.6 per cent after seeing its shares pummeled over the past week.

Shares got a boost from positive data showing a 0.5 per cent rise in US consumer spending in July over June, which suggested that fears of the economy turning toward recession might be overblown.

Also helping was the strong close in European markets, as the week's newest frights over debt problems eased and authorities in four countries declared temporary bans on short-selling bank shares. -- AFP

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Kredit: www.nst.com.my

Jumaat, 12 Ogos 2011

NST Online Business Times : latest

NST Online Business Times : latest

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