19 Dec 2014
US stocks consolidated rally and closed biggest weekly gain in 2 years
FXStreet (San Francisco) - The so called week-end rebalancing did not take place today; rather, it took place in the form of movements of consolidation at highs. So, Santa Claus is still coming to town as Wall Street extended gains for the third day and the S&P 500 made its biggest weekly gain in almost two years.
Investors traded on risk-on mode as reaction to the relaxed and optimistic press conference the US President gave before going to holidays. According to Barack Obama, any single metric says the United States is in a better shape. Dollar index closed at highs while oil rallied $2.65 to closed near to $58.00.
In addition, the 'quadruple witching' event fed the volume average as traders were exchanging more than 2.1 billion shares in the NYSE floor.
The Dow Jones advanced 0.15% on the day to 17,804.80; the DJIA rallied 3.05% on the weekly basis. The S&P 500 rose 0.46% to 2,070.65; +3.45% in the week. The Nasdaq Composite won 0.36% on the day to 4,765.38; 2.4% positive on the week.
On the daily basis, most sectors finished Friday up for the day. Energy shares (+2.59%) led the market followed by Materials (+1.07%) and Consumer Discretionary (+0.42%). To the downside, Telecomm (-0.20%), Consumer staples (-0.18%) and Utilities (-0.03%) were the laggards.
On the week, All sectors posted gains, specially the energy sector that soared 8.90% in the week. Materials rallied 4.38% and Industrials climbed 3.35% in the last 5 days of trading.
Small caps in the figure of the Russell 2000 advanced 0.32% to 1,195.96. The Russell rose 3.78% on the week.
Investors traded on risk-on mode as reaction to the relaxed and optimistic press conference the US President gave before going to holidays. According to Barack Obama, any single metric says the United States is in a better shape. Dollar index closed at highs while oil rallied $2.65 to closed near to $58.00.
In addition, the 'quadruple witching' event fed the volume average as traders were exchanging more than 2.1 billion shares in the NYSE floor.
The Dow Jones advanced 0.15% on the day to 17,804.80; the DJIA rallied 3.05% on the weekly basis. The S&P 500 rose 0.46% to 2,070.65; +3.45% in the week. The Nasdaq Composite won 0.36% on the day to 4,765.38; 2.4% positive on the week.
On the daily basis, most sectors finished Friday up for the day. Energy shares (+2.59%) led the market followed by Materials (+1.07%) and Consumer Discretionary (+0.42%). To the downside, Telecomm (-0.20%), Consumer staples (-0.18%) and Utilities (-0.03%) were the laggards.
On the week, All sectors posted gains, specially the energy sector that soared 8.90% in the week. Materials rallied 4.38% and Industrials climbed 3.35% in the last 5 days of trading.
Small caps in the figure of the Russell 2000 advanced 0.32% to 1,195.96. The Russell rose 3.78% on the week.