US stocks closed higher on Friday

Source: Dukascopy Bank SA
© Scanpix/AFP
US stocks rallied on Friday on encouraging economic data releases from Germany and hopes that Black Friday boosted retail sales. German business confidence unexpectedly climbed in November, stimulating demand for riskier assets. US equities also found support on signs that China's growth is back on track due to easing measures implemented this year. The S&P 500 Index surged 1.3% to end the week at 1,409.15. All but one sector included in the index jumped. The top-performers were technology and consumer goods sectors. Shares of Apple, Cisco Systems and Dell climbed 1.74%, 1.95% and 5.41%, respectively. Retailers soared, with Gap, Best Buy and Family Dollar Stores adding 1%, 1.12% and 1.85%, respectively. Lenders also were bullish, with BB&T and Comerica climbing 1.52% and 1.81%. On the downside were utilities. Ameren, Wisconsin Energy and Edison International slumped 0.59%, 0.71% and 0.75%, respectively.

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Mon, 26 Nov 2012 12:30:11 GMT

Dow advanced on China's optimism

Dow jumped on Friday amid optimism over Chinese economy. Morgan Stanley predicted China's economy to expand by 8.2% next year and by 8% in 2014, citing positive impact of recent easing measures of the government. Moreover, upbeat German business sentiment figure lifted US blue chips. The Dow Jones Industrial Average Index surged 1.35% to close at 13,009.68. All sectors climbed.

Mon, 26 Nov 2012 13:14:15 GMT

European stocks fall before European finance ministers meeting

European stocks fell before Eurozone's finance ministers meet for a third time to discuss Greece's finances. The Stoxx Europe 600 Index dropped 0.2% to 272.73, after jumping 4% last week on optimism that the Congress will agree on the U.S. budget. Futures on the Standard & Poor's 500 Index lost 0.4% todays, whereas the MSCI Asia Pacific Index rose 0.4%. 

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