6 Dec 2013
Wall Street jumps as good data is finally good news
FXstreet.com (San Francisco) - The US stocks market closed the week with a strong note following the better than expected US November employment report and Michigan consumer sentiment. Investors digested the data, including increases in consumer spending and participation rate, as good enough to believe the economy is in a turning point.
However, some experts are talking that the Fed could be considering the tightening instead of the tapering of its QE program. Others say that market is tired of the taper buzz and Wall Street would be giving 'the permission' to the Fed start its cuts as soon as December as investors are beginning to believe in the economic fundamentals.
The Dow Jones performed its best day in nearly 2 months, the S&P closed its biggest daily gains in a month and the Nasdaq traded at its highest level since 2000. However, the Dow and the S&P closed its first negative week in the last nine.
The Dow Jones rallied 198.69 points or 1.26% on Friday to close at 16,020.20. The DJIA performed 0.41% down in the week. The S&P jumped 20.06 points or 1.12% to end the day at 1,805.09; The S&P finished 0.04% down in the week. The Nasdaq advanced 29.36 pts or 0.73% to close at 4,062.52; the Composite posted 0.06% gains in the weekly basis.
However, some experts are talking that the Fed could be considering the tightening instead of the tapering of its QE program. Others say that market is tired of the taper buzz and Wall Street would be giving 'the permission' to the Fed start its cuts as soon as December as investors are beginning to believe in the economic fundamentals.
The Dow Jones performed its best day in nearly 2 months, the S&P closed its biggest daily gains in a month and the Nasdaq traded at its highest level since 2000. However, the Dow and the S&P closed its first negative week in the last nine.
The Dow Jones rallied 198.69 points or 1.26% on Friday to close at 16,020.20. The DJIA performed 0.41% down in the week. The S&P jumped 20.06 points or 1.12% to end the day at 1,805.09; The S&P finished 0.04% down in the week. The Nasdaq advanced 29.36 pts or 0.73% to close at 4,062.52; the Composite posted 0.06% gains in the weekly basis.