Wall Street closed at highest levels in 2016's recovery

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Wall Street was a rally to end the week on optimism post the ECB yesterday and a potentially bullish outlook from the FOMC while rates will be left unchanged until possibly June, allowing some upside in the corporate sectors.

    U.S. stocks rallied to the highest levels for 2016 so far with the S&P 500 and Dow were making yet further weekly gains for fourth week in a row as markets enjoy better oil prices, no matter how hard that is to explain fundamentally. Bank stocks were most impressive.

    The S&P 500 was up 1.5% or 29 points closing at 2,019 with banks up 2.4%and energy stocks up 2.3%. WTI made highs of $39.04 and settled at $38.50 into the close in consolidation of the bid. The Dow carried 190 points into the close to finish up or 1.1% to 17,184 and the Nasdaq was closing 66 points higher, or 1.5%, to 4,731.
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