2023-06-09 22:17:00
The New York stock market ended higher on Friday following a good week, marked by breaking through an important technical threshold, ahead of a much-anticipated inflation indicator and a meeting of the US central bank (Fed), according to AFP.
Wall StreetPhoto: Vichaya Kiatying-Angsulee / Panthermedia / Profimedia Images
- The Dow Jones gained 0.13%,
- The Nasdaq gained 0.16%,
- The S&P 500 gained 0.12%.
On Thursday, the S&P 500 managed to close 20% above its October 12 low.
On Friday, however, the most representative index of the New York stock exchange failed to finish above 4,300 points, a new important technical threshold.
“There were very few economic indicators this week and the market had to think for itself for the first time, which was positive,” commented Quincy Krosby of LPL Financial.
For Maris Ogg of Tower Bridge Advisors, the result was that “the worst is over”, meaning almost all of the monetary tightening and banking crisis, although investors still expect the economy to deteriorate.
“We also saw the end of the US sovereign debt crisis, (…) which I think weighed on the market more than people realised,” which pushed stocks back, noted Chris Low of FHN Financial.
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