Stocks edge higher on pledge from global officials $DJIA

  • 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
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