US stocks climbed on Friday

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Source: Dukascopy Bank SA
US stocks ended last week on the positive note, drawing strength from the long-awaited Fed stimulus measures. Meanwhile, larger-than-expected increase in the US retail sales last month created additional boost for the US equities.  At the same time, the US industrial production dropped at the fastest pace in three years in August thus pressuring the US stock market. The S&P 500 Index added 0.40% to close at 1,465.77. Six out of ten sectors within the index advanced. The largest gains poised oil and gas companies as oil prices soared amid escalated tensions in the Middle East. Alpha Natural Resources, Cameron International and Chesapeake Energy surged 3.89%, 0.72% and 3.12%. Basic materials also climbed, with Air Products & Chemicals and Airgas easing up by 1.42% and 0.12%. Dragging the US index lower, telecommunications lost 2.00%, with CenturyLink and Crown Castle International retreating 1.26% and 0.84%.

 

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Mon, 17 Sep 2012 16:37:03 GMT

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