Strong finish of the week for Wall Street
Saturday, March 6th, 2010
The U.S. shares saw its best performance since the beginning of January after leading index Dow Jones Industrial Average (DJIA) closed the week with growth of 2.3 percent. Investors relax after employment data in February proved to be not as bad as expected. The U.S. economy lost 36 thousand jobs in February instead of the expected 56 thousand. Shonberger Todd, managing director at LandColt Trading, however, warn that enthusiasm can quickly be cooled. In his temporary jobs figures are overstated, and while they do not become a permanent long-term prospects remain unclear. Dow Jones Industrial Average rose by 1.2 percent in today’s session at 10 566 points per week which represents an increase of 2.3 percent. Growth of the DJIA today is the largest of 16 February onwards. The index was led by further growth at Boeing (3,6%), American Express (3,4%) and Alcoa (3,2%). Broader index S & P 500 rose by 1.4 percent to 1 139 points or weekly growth of 3.1 percent. Technological Nasdaq increased by 1.5% to 2 326 points after Apple announced a new Tablet PC that the company will begin to be sold on 3 April, which led to a rise in its shares by 3.9 percent.
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