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US stocks aiming for fifth straight weekly gain

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Stock markets in the US appear on track to score fifth straight week of gains as prospects of a more gradual rate rise is keeping sentiment in favor of risk assets.

    At the time of writing, Dow Jones Industrial Average (DJIA) was up 106 points or 0.61%. The index ended higher on Thursday for fifth straight day and turned positive for this year. Meanwhile, S&P 500 and Nasdaq were up at least 0.4%.

    Bank stocks –JP Morgan and Goldman Sachs were the top performers from DJIA index. Meanwhile, losing side included names like Caterpillar, IBM, Coca-Cola.

    Equity markets have surged roughly 12% since their mid-February low largely due oil prices recovery. Gains witnessed since Wednesday are due to Fed’s back tracking from December’s call of four rate hikes in 2016.
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