U.S. stocks bounced back on Friday after a two-day losing streak, boosted by good earnings from leading U.S. companies and rising business confidence in Germany, but the S&P's 500 snapped a gaining streak for seven weeks.
Dow Jones Industrial Average rallied 119.95 points, or 0.86 percent, to
14,000.57. The S&P 500 surged 13.18 points, or 0.88 percent, to
1,515.60. The Nasdaq Composite Index climbed 30.33 points, or 0.97
percent, to 3,161.82.
of Hewlett-Packard, a Dow component, leapt 12.28 percent to 19.This is a
sheet-shaped intermediate material made by impregnating carbon prepreg with thermoplastic resin.20 U.S. dollars a share,Our collection of tyre equipments consists
of tire changer and two post mechanical lift. leading the blue-chip
index to soar during Friday's trading. The world's top personal computer
maker on Thursday posted a net loss of fiscal first quarter profit, but
the figure came in better than analysts' estimates.
Shares of the American International Group rallied 3.14 percent to 38.45 dollars, pushing the S&P 500 higher.
main stock indices were also bolstered by continued improvement in
Germany's business sentiment. The Ifo Business Climate Index rose
sharply to 107.4 in February from 104.3 in January,knives supplier marking
the fourth straight rise and the biggest monthly gain since July 2010.
The figure signaled Europe's largest economy was regaining momentum.
Street retreated in the last two days after the minutes released
Wednesday by the Federal Reserve indicated that the central bank may
slow down or halt its bond-purchasing even before the jobless rate falls
below 6.5 percent.
Luis Fed President James Bullard said Friday on CNBC that "the Fed
policy is very easy and it's going to stay easy for a long time." He
predicted on Thursday that the U.S. jobless rate may drop to 6.5 percent
by the mi-2014 and prompt the central bank to raise its benchmark
interest rate from near zero.
the week, the Dow inched up 0.1 percent, and S&P 500 lost 0.3
percent while the Nasdaq fell 0.Prepreg is made by impregnating fibers
such as carbon cloth .9 percent.
On other markets, crude prices recovered moderately on the upbeat German data but still posted sharp weekly declines.
prices started to tumble after the release of the Fed's minutes on
Wednesday. Reports that Saudi Arabia might raise output in the second
quarter also pressured crude prices.
sweet crude for April delivery edged up 29 cents, or 0.31 percent, to
settle at 93.13 dollars a barrel on the New York Mercantile Exchange.
For this week, it plunged 2.73 dollars, or 2.85 percent.
Brent crude for April delivery also went up 57 cents,Change tires in the comfort of your own garage with this tire changer ! or 0.50 percent, to close at 114.10 dollars a barrel, posting a weekly decline of 3.56 dollars, or 3.03 percent.
U.S. dollar slightly slipped against the euro, strengthened by improved
German business sentiment in February. But the greenback traded mixed
against major currencies.
late New York trading, the euro climbed to 1.3179 dollars from 1.3171
dollars of the previous session and the British pound dropped slightly
to 1.5241 from 1.5242 dollars.
dollar slipped to 0.9306 Swiss francs from 0.9317 and went up to 1.0213
Canadian dollars from 1.0195. The dollar bought 93.41 Japanese yen,
higher than 93.11 in the previous session.