Markets rally to end poor week on a better note $MS:xnys
- Published: 26 March 2012
- Markets ended the week on a better note, however the Dow and S&P500 still posted their worst week for the year thus far due to fear of a China slowdown and poor economic news from the Euro Zone
- Market were stronger despite disappointing housing data from the US which should that New Home Sales fell 1.6% in February
- Markets took a risk on tone on Friday with the CBOE VIX Index falling below 15.00, Crude prices rallying and financials also moving higher
- Financials were stronger led by gains in Goldman Sachs and Morgan Stanley after broker upgrades on the stock by Royal Bank of Canada. Bank of America was also stronger after an upgrade from Evercore
- Leading the gains on the Dow was HPQ, BAC, CAT and JPM which rallied 2.61%, 2.60%, 1.32% and 1.14% respectively
- DOW 0.27%, S&P500 0.31% and NASDAQ 0.15%
- USD was weaker as commodity driven currencies like the AUD rose
- Gold was off by 1.00% and Crude rallied 1.4% and lower Iranian exports
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