Stock Market Watch

Stocks Post Weekly Gain

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Although stocks ended on a mixed note on Friday, all three major indexes managed to post gains for the week on the back of some solid economic data and hopes that Greece will secure a bailout.

The week began on a positive note as Greek political leaders passed a package of austerity measures and reforms to secure additional bailout funds from the country’s European partners and the International Monetary Fund. Although some euro zone leaders are skeptical about Greece’s ability to implement the measures, the debt-laden country is likely to secure additional bailout funds and avert a messy default.


Investors’ sentiment was also lifted this week by some solid U.S. economic data, including strong labor market. According to report released by the Labor Department on Thursday, initial jobless claims fell unexpectedly in the latest week.

The euro zone also reported some positive economic data this week. Earlier in the week, France and Germany, the two biggest euro zone economies, reported better than expected GDP data. While Germany’s economy contracted less than forecast in the fourth quarter, France’s economy grew unexpectedly in the fourth quarter. However, the euro zone economy as a whole contracted in the fourth quarter.

For the week ended Friday, the Dow Jones rose 1.16%, the S&P rose 1.38%, and the Nasdaq rose 1.65%. The Dow Jones is now close to the psychological 13,000 mark. All sectors in the S&P 500 rose for the week ended Friday.

Among the major movers for the week were Bank of America Corporation (NYSE: BAC), which fell 0.62%, Apple Inc. (NASDAQ: AAPL), which rose 1.76%, and Microsoft Corporation (NASDAQ: MSFT), which rose 2.48%.

Investors are now waiting for the all important euro zone finance ministers meeting on Monday. Markets in the U.S. will remain closed on Monday for President’s Day.

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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