U.S. Stock Market Summary – September 16, 2011
U.S. Stock Market Summary – September 16,
2011
US stocks closed higher for the fifth straight day on Friday, the first time all three indexes posted fie winning days in a week since mid-June. The Dow and S&P 500 each gained about 5 percent on the week, and the Nasdaq rose about 6.3 percent, its best one-week performance in nearly two years. Stocks began the session in positive territory before faltering briefly about two hours in, then remained up for the rest of the day.
The Dow Jones industrial average added 76 points, or 0.66%, to finish the week at 11,509. 21 of the Dow's blue-chip components posted gains, led by a 2.5 percent surge in share of Proctor & Gamble and a 2 percent jump in shares of Intel, while losses were fueled by a nearly 2 percent dip in Pfizer stock. Financial shares Bank of America and JP Morgan Chase both fell more than 1 percent, as well.
The Standard & Poor's 500, meanwhile, climbed almost 7 points, 0.57%, to close at 1,216; and the tech-loaded Nasdaq composite rose 15 points, 0.58%, to 2,622. Ebay and Amazon were among the S&P's top gainers, with shares rising 5.2 and 5.5 percent, respectively, while the Nasdaq once again had more than 30 stocks posting double-digit gains.
Shares of the video streaming and DVD rental Company Netflix fell 8.3 percent, to lead the decliners on the S&P 500, after it announced late Wednesday that it expected to lose more subscribers than previously expected due to its recent pricing changes. BlackBerry maker Research in Motion posted a bigger-than-expected decline of more than 50 percent in profits, leading to a 19 percent dip in share price.
US stocks closed higher for the fifth straight day on Friday, the first time all three indexes posted fie winning days in a week since mid-June. The Dow and S&P 500 each gained about 5 percent on the week, and the Nasdaq rose about 6.3 percent, its best one-week performance in nearly two years. Stocks began the session in positive territory before faltering briefly about two hours in, then remained up for the rest of the day.
The Dow Jones industrial average added 76 points, or 0.66%, to finish the week at 11,509. 21 of the Dow's blue-chip components posted gains, led by a 2.5 percent surge in share of Proctor & Gamble and a 2 percent jump in shares of Intel, while losses were fueled by a nearly 2 percent dip in Pfizer stock. Financial shares Bank of America and JP Morgan Chase both fell more than 1 percent, as well.
The Standard & Poor's 500, meanwhile, climbed almost 7 points, 0.57%, to close at 1,216; and the tech-loaded Nasdaq composite rose 15 points, 0.58%, to 2,622. Ebay and Amazon were among the S&P's top gainers, with shares rising 5.2 and 5.5 percent, respectively, while the Nasdaq once again had more than 30 stocks posting double-digit gains.
Shares of the video streaming and DVD rental Company Netflix fell 8.3 percent, to lead the decliners on the S&P 500, after it announced late Wednesday that it expected to lose more subscribers than previously expected due to its recent pricing changes. BlackBerry maker Research in Motion posted a bigger-than-expected decline of more than 50 percent in profits, leading to a 19 percent dip in share price.
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