Wall Street Rises on hopes for Cyprus deal $AUDUSD
- Published: 25 March 2013
- NICOSIA, Cyprus (AP) -- Lawmakers in Cyprus approved three key bills on Friday that aim to raise enough money to qualify the country for a broader bailout package and help it avoid financial ruin in mere days.
- The S&P 500 ended the week down 0.2 percent, which was just its second weekly decline of the year.
- Nike (NKE.N) shares jumped 11.1 percent to $59.53 and hit a record intraday high at $60.23, a day after the athletic shoe maker reported stronger-than-expected results
- Gold traders are becoming more bullish as concern mounts that a worsening of Europe’s debt crisis will spur demand for a protection of wealth at a time when nations from the U.S. to Japan are signaling more stimuli.
- DOW +0.63%, S&P500 +0.72% and NASDAQ +0.70%
- Treasuries gained for a second straight week as investors sought safety on speculation financial turmoil in Cyprus would worsen Europe’s three-year-old sovereign-debt crisis.
- WTI capped a third weekly gain and the euro increased against the dollar as a Cypriot lawmaker said talks are going in the right direction with the Euro finishing the week at 1.2953 against the US dollar
