Markets close higher to end the week on a positive note $SP500.I
- Published: 20 August 2012
- Markets ended the week higher with the S&P500 now logging six consecutive weeks of gains. The VIX Index fell below 14.00 to reach its lowest level in 5 years as the volatility and fear in the market subsides
- Leading the economic data was a positive Consumer Sentiment report which saw its highest reading since May. Investors now await the release of the Fed's Minutes on Wednesday for further insight into potential stimulus
- Leading the gains on the S&P500 for the week were technology stocks while the more conservative utility stocks were weaker as risk appetite grows
- Apple closed at an all time high as broker Jefferies raised its price target from $800 a share to $900 as the market anticipates the successful launch of pending new products will further increase the companies dominance
- Facebook fell again on Friday to close down 5% at $19.05 per share
- Leading the gains on the Dow was UTX and TRV rallying 2.03% and 1.72%
- DOW +0.19%, S&P500 +0.19% and NASDAQ +0.46%
- USD gained due to positive consumer sentiment, the AUD fell below 1.0500
- Gold was relatively flat on stimulus uncertainty, Crude was slightly higher
