Market Commentary: Markets End the Week on a High Note

February 14th, 2014
in Gary's blogging, market close, syndication

Written by

Closing Market Commentary For 02-14-2014

Gary is off this afternoon, and the market close is provided by our syndication partner  Read the complete weekly wrap from here.

U.S. stocks rose on Friday buoyed by a consumer sentiment report that surprised many investors. At the close of U.S. trading, the Dow Jones Industrial Average rose 0.79%, the S&P 500 index rose 0.48%, while the Nasdaq Composite index rose 0.08%.

Follow up:

Earlier Friday, the preliminary Thomson Reuters/University of Michigan consumer sentiment index remained unchanged at 81.2 for February, beating expectations for a fall to 80.6, which drew applause on Wall Street. Elsewhere, the Federal Reserve reported that U.S. industrial production fell 0.3% in January, defying expectations for a 0.3% rise after a 0.3% increase the previous month, though equities market shrugged off the news and blamed it on rough winter weather.

Data also showed that U.S. import prices rose 0.1% last month, confounding expectations for a 0.1% downtick after a 0.2% rise in December. While economic indicators have come in hit-or-miss this year, many went long on stocks betting that the second quarter will bring more robust economic data.

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Written by Gary


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