US Stocks End Higher on Friday

October 29 00:00 2011

New York, October 29 (RainbowNewsLine.com) – After fluctuating up and down throughout the trading session on Friday, US stocks finally ended Friday mostly on a higher note buoyed by relief over European progress in solving the sovereign debt crisis. Key indexes registered weekly gains.

Brian Greenberg, owner of wealth management firm Brian Greenberg & Associates, said “When Europe didn’t implode and even came up with a ‘plan’ to fix its pervasive debt problems that left the shorts with no room to hide.” 16 out of the 30 components of the Dow Jones Industrial Average rose while the blue-chip index itself went up 22.56 points, or 0.2%, to close up to 12,231.11. It moved ahead 3.6 percent for the week and up 11% for the month so far. The index also registered its fifth-straight weekly gain.

The S&P 500 Index added 0.5 points, or 0.04%, to 1,285.09 after scoring a 3.8% weekly increase, up 12% month to date. Energy companies gained the most and consumer-discretionary stocks were the slowest movers among its 10 sectors. The Nasdaq Composite Index dropped 1.48 points, or 0.1%, to close at 2,737.15, a level that has it up 3.8% on the week and 9.9% ahead for October so far.

The prospects of the global economy will become clear when data is released next week.

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