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 [转帖]S&P 500 has its best week in over three years |
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Goldrecluse
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作者：Goldrecluse 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
S&P 500 has its best week in over three years
Wall Street hopes Fed will stop raising rates as economic growth slows further
https://www.marketwatch.com/News/Story/Story.aspx?siteid=mktw&guid={5AC8EB2D-72E1-4D66-8C50-3C0CFC4D3FD2}&dist=bnb
By Mark Cotton, MarketWatch
Last Update: 5:30 PM ET Jul 28, 2006
NEW YORK (MarketWatch) -- U.S. stocks ended sharply higher, with the S&P 500 Index posting its best weekly point gain in over three years, on hopes the Federal Reserve will stop raising interest rates after economic growth slowed more than expected in the second quarter.
Friday's strong finish comes after a week of volatile trading due to a mixed set of quarterly reports. Strong earnings from the likes of Merck, Exxon Mobil and AT&T were offset by disappointing results at Amazon.com Inc, Boeing Co. and UPS.
The Dow Jones Industrial Average ($INDU11,105.88, -79.80, -0.7%) rose 119.27 points to 11,219.70, capping what is the best weekly point gain for the index since November 2004. The benchmark index posted a weekly gain of 3.2%, or 351.22 points
The S&P 500 Index ($SPX1,267.28, -9.38, -0.7%) rose 15.35 points to 1,278.55. On the week, the index rose 3.1%, or 38.26 points, its best gain in points since March 2003.
The Nasdaq Composite Index ($COMPQ : Nasdaq Composite Index
$COMPQ2,061.52, -29.95, -1.4%) added 39.67 points to 2,094.14. The tech-rich index rose 3.7% on the week, or 73.75 points, its best weekly gain since January.
"The GDP number was softer than expected and it increases the chances that the Federal Reserve will pause in their long string of interest-rate increases when they meet next in August," said Alan Gayle, senior investment strategist at Trusco Capital Management.
But Gayle said the market may begin to worry about "too rapid a deceleration" in economic growth. Gayle noted that the GDP report showed that business investment increased just 2.7% in the second quarter, the lowest quarterly gain since the first quarter of 2004.
The Federal Open Market Committee, the Fed's interest-rate setting body, meets on August 8 to discuss monetary policy and interest rates. Its key fed-funds rate currently stands at 5.25%. On the fed-funds futures market, the odds are now that the central bank will not raise interest rates in the next four months.
On the broader market for equities, advancers outpaced by more than 4 to 1 on the New York Stock Exchange, and by more than 2 to 1 on the Nas
作者：Goldrecluse 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 [转帖]S&P 500 has its best week in over three years -- Goldrecluse - (2538 Byte) 2006-8-01 周二, 23:35 (1443 reads)
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