Stocks edge higher on pledge from global officials $DJIA

Last Updated on Monday, 26 September 2011 14:53

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US markets closed on Friday night slightly higher, after a pledge from global officials to maintain stability helped elevate investor anxiety about that state of global markets and economic growth
The Dow ($DJIA) fell 6.4% for the week, its worst return since October 2008. The index has dropped in seven out of the last nine weeks and last weeks falls marked the sixth largest weekly points loss in over 115 years
Sharp falls in Gold due to futures margin increases and equity covering saw majors such as Barrick Gold, Goldcorp and Newmont Mining fall 4.8%, 4.4% and 3.7% respectively on Friday’s session
Leading the moves on the Dow on Friday were BAC, INTC, HD and CSCO rising by 4.13%, 2.52%, 2.03% and 1.83% respectively
Footwear giant Nike rallied 5.3% after beating sales estimates
Dow Jones +0.35% S&P500 +0.61% NASDAQ +1.12%
USD remain strong as investors look to safety. EUR rallied to 1.3577 before falling away. GBP was up to 1.5511 and the AUD fell to 0.9655
Gold futures fell over 5% on Friday and Crude fell to a USD77.55 low

Published by Spectrum Live Pty Ltd | www.spectrumlive.com

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