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Category Archives: Debt and Deficits
Stock prices continued their march higher, surpassing previous record levels and propelling 2013 stock returns further into double-digit territory.
All three major U.S. stock indexes closed higher Wednesday for the second straight day led by technology stocks, although the main event took place after the close as Apple stock dropped sharply following a disappointing earnings report.
Stocks finished Friday little changed, consolidating recent gains that have propelled the S&P 500 to a five-year high.
Stock prices jumped roughly 2% Thursday, reaching multi-year highs on this morning’s announcement that the European Central Bank will begin buying bonds of the lesser credits among Europe’s sovereigns.
Renewed fears about European debt, particularly in Spain, sent U.S. stock prices lower on Friday to end an otherwise positive week.
Stocks grabbed back most of Monday’s losses, with the big three U.S. stock market averages gaining 1.1%-1.3% on Tuesday after Federal Reserve Bank of Chicago president Charles Evans said he would support additional easing to stimulate economic growth.
Stocks opened the week trading in a relatively quiet and narrowly mixed range.
Stocks rallied for a second day following Tuesday’s biggest setback of the year, with the Dow gaining 70 points (0.6%) today, the S&P 500 ahead by 1.0% and NASDAQ increasing 1.2%.
While rioting demonstrators burned buildings in Greece, investors breathed a sigh of relief that the latest chapter of the Greek bailout drama appeared to be nearing resolution.
Stock prices ended what had been a mostly directionless week on a decidedly down note.