Wall Street stock market rose for five consecutive days after European leaders worked together to reduce the impact of the local debt crisis. The S & P 500 scored highest gain this week.
Steps taken by European leaders showed that they are serious to end the debt crisis that has undermined the financial markets in recent weeks. One way is to provide easier access to loan U.S. dollars (U.S.).
U.S. Treasury Secretary Timothy Geithner urged European finance ministers to work together and improve the level of its bailout to tackle the crisis, but there is no agreement on what steps will be taken.
Still, it's positive news helped the S & P 500 climbed 5.4% in a week, its best gain since early July. The rise in the index in the last five days is also the best since June.
In percentages, the Nasdaq Composite Index recorded the highest rise since July 2009, aided by technology stocks. Index technology sector in the S & P, GSPT grew 1%, while the broader S & P consumer sector, namely GSPD also rose 1%.
"The market situation will be more convincing as the absence of extraordinary destruction in Europe," said Chief Investment Trunow Natalie Calvert Investment Management in Bethesda, Maryland, as quoted by Reuter, Saturday (09/17/2011).
Steps taken by European leaders showed that they are serious to end the debt crisis that has undermined the financial markets in recent weeks. One way is to provide easier access to loan U.S. dollars (U.S.).
U.S. Treasury Secretary Timothy Geithner urged European finance ministers to work together and improve the level of its bailout to tackle the crisis, but there is no agreement on what steps will be taken.
Still, it's positive news helped the S & P 500 climbed 5.4% in a week, its best gain since early July. The rise in the index in the last five days is also the best since June.
In percentages, the Nasdaq Composite Index recorded the highest rise since July 2009, aided by technology stocks. Index technology sector in the S & P, GSPT grew 1%, while the broader S & P consumer sector, namely GSPD also rose 1%.
"The market situation will be more convincing as the absence of extraordinary destruction in Europe," said Chief Investment Trunow Natalie Calvert Investment Management in Bethesda, Maryland, as quoted by Reuter, Saturday (09/17/2011).
In trading Friday, the Dow Jones index ended up 75.91 points (0.66%) to the level 11.509.09. The broader Standard & Poor's 500 rose 6.90 points (0.57%) to a level of 1216.01. Composite Nasdaq Composite Index rose 15.24 points (0.58%) to a level of 2622.31.
Within a week, the Nasdaq Composite Index increased 6.3% while the Dow Jones index grew 4.7%.
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