Economy | News-Opinion
CLOSING BELL: September 14th: DJIA: 13,593.37 | UP 53.51 | +0.40%
OIL: $99.00, UP 0.69, +0.70%
GOLD: $1,772.70, UP 0.60, +0.03%
GASOLINE (US Avg): $3.871, UP .002
Wall Street ends at multi-year highs on Fed
Wanfeng Zhou, Reuters – U.S. stocks rose for a fourth straight session on Friday to close out the week at nearly five-year highs after the Federal Reserve took bold action to spur the economy, a move that could keep equities buoyed in the coming months.
Shares of Apple Inc (AAPL.O), the largest U.S. company by market value, ended at an all-time peak, and Exxon Mobil (XOM.N), the second biggest, hit a four-year high.
Equities are in a run-up that has pushed the S&P 500 to end higher for four consecutive months. The extended advance has come mainly from actions by Europe’s and the United States’ central banks to keep interest rates low and stimulate their struggling economies.
The Fed said Thursday that it would keep up its aggressive bond-buying until unemployment falls. Chairman Ben Bernanke said he wanted to see a convincing improvement in the economy that could deliver sustainable job creation.
Read the rest of this article at Reuters here.
The Common Good publishes a financial market wrap-up every weekday after markets close, available here.
