US stocks finished the trading week flat however the both logged their best weekly gains in over three months. The Dow finished the session down 20.14 points at 13232, for the week up a total of 2.40 percent. The S&P500 index (see above chart) finished the day up 1.57 points at 1404 for the week this is a rally of 2.43 percent.
Busy session on the economic front with University of Michigan’s consumer sentiment slipping in early March to 74.3 from 75.3 in February, The Labour Department announced that the consumer price index increased 0.4 percent in February as gasoline prices jumped. Finally the Federal Reserve reported that the Industrial production was unchanged in February, snapping a three-month gain.
The price of gold has continued to slip for the third consecutive week pushed down by a stronger US dollar on the back of positive US economy data. Gold finished the day down 0.22 percent and the week down 3.15 percent.
WTI crude oil climbed to a ten month high of speculation that fuel demand will increase as the country continues to rebound. WTI crude advanced 1.9 percent to finished the week at 107.6.
INDICES
Last Traded
SPI 200 future 4315
S&P500 Index 1404.1
Dow Jones 13232.62
FTSE 100 Index 5965.58
COMMODITIES
Last Traded
Gold 1660
Oil (Nymex) 107.06
CURRENCIES
Last Traded
AUDUSD 1.0590
EURUSD 1.3175
GBPUSD 1.5840
USDJPY 83.37
Source
Bloomberg, Dow Jones News
http://www.vantagefx.com/market-news/market-wrap/
