Dow Jones extends its winning streak for a fourth week

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Source: Dukascopy Bank SA
U.S. equities jumped for the week, yet posting small losses on Friday. Dow Jones Industrial Average climbed for a fourth week, soaring 0.8% to 14,514.11 during the last week. Stocks edged higher as data released showed that U.S. retail sales jumped twice as much as expected in the last month, pointing out that improving labor market is contributing to consumers' spending. Financial shares posted second biggest gain, as Bank of America added 3.8% after winning support from the Federal Reserve to buy back stock. Boeing Co followed with a 2.1% surge, as the company said safety improvements to the battery systems of 787 Dreamliner model might enable to restart taking off within two weeks. Alongside to that, JPMorgan & Chase capped further increase in financials, as its shares erased nearly 2% as a Senate investigation found that the company's CEO misled investors and bypassed regulators.


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