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18 Mar 2016
US stocks aiming for fifth straight weekly gain
Stock markets in the US appear on track to score fifth straight week of gains as prospects of a more gradual rate rise is keeping sentiment in favor of risk assets.
At the time of writing, Dow Jones Industrial Average (DJIA) was up 106 points or 0.61%. The index ended higher on Thursday for fifth straight day and turned positive for this year. Meanwhile, S&P 500 and Nasdaq were up at least 0.4%.
Bank stocks –JP Morgan and Goldman Sachs were the top performers from DJIA index. Meanwhile, losing side included names like Caterpillar, IBM, Coca-Cola.
Equity markets have surged roughly 12% since their mid-February low largely due oil prices recovery. Gains witnessed since Wednesday are due to Fed’s back tracking from December’s call of four rate hikes in 2016.
At the time of writing, Dow Jones Industrial Average (DJIA) was up 106 points or 0.61%. The index ended higher on Thursday for fifth straight day and turned positive for this year. Meanwhile, S&P 500 and Nasdaq were up at least 0.4%.
Bank stocks –JP Morgan and Goldman Sachs were the top performers from DJIA index. Meanwhile, losing side included names like Caterpillar, IBM, Coca-Cola.
Equity markets have surged roughly 12% since their mid-February low largely due oil prices recovery. Gains witnessed since Wednesday are due to Fed’s back tracking from December’s call of four rate hikes in 2016.