Stocks saved their best tricks for Halloween, with the Dow Jones surging by 195 points to an all-time high yesterday, capping a month that brought as many twists and turns as a Wes Craven horror flick.
U.S. stocks finished the heady month of October up 2.3 percent.
The Dow Jones industrial average soared 1.1 percent yesterday alone, closing at 17,390.52. For the Standard & Poor's 500, it was a 23 point increase — or 1.2 percent — to a record-high 2,018.05. The Nasdaq picked up 64.60 points — a 1.4 percent gain — to close at 4,630.74.
The rocky month of October — a time that has seen horrific stock market crashes in both 1929 and 1987 — this year nearly approached levels from the 2008 financial crisis, fueled by fears over Europe slipping back into recession and plunging oil prices.
The S&P nearly went into a correction on Oct. 15, but the markets bounced right back.
"I don't think it's a surprise that we came close to a correction. We've been expecting one for a while. I think the bigger surprise has been how we rip-roared all the way back up," said Bob Doll, chief equity strategist at Nuveen Asset Management. "When you hit someone over their head with a hammer, you don't expect them to get up immediately."
The encouraging economic news was offset slightly by a Commerce Department report yesterday that showed U.S. consumers cut spending in September for the first time in eight months, and incomes grew at the slowest pace this year.
Spending, which accounts for 70 percent of economic activity, has fallen only three times since the recession ended in 2009, but slipped 0.2 percent in September. Income edged up 0.2 percent.
Economists say the slide should be short-lived with the impending holiday season, a strengthening job market and a growing economy.
Herald wire services contributed to this report.
Anda sedang membaca artikel tentang
Dow delivers Halloween treat
Dengan url
http://tanganusaha.blogspot.com/2014/11/dow-delivers-halloween-treat.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Dow delivers Halloween treat
namun jangan lupa untuk meletakkan link
sebagai sumbernya
0 komentar:
Posting Komentar