Friday Afternoon Cheat Sheet: 3 Stories That Moved Markets
The U.S. equity markets experienced a little bit of a rally on Friday, following two days of steep losses. Many investors lost their appetite for risk after minutes from the Federal Reserve’s January meeting revealed some uncertainty over the future of quantitative easing. Underwhelming economic indicators and some bad news out of Europe didn’t help things earlier in the week, but confidence seemed to return on Friday, with the Dow chasing Hewlett-Packard (NYSE:HPQ) upwards; it is the only major index to close the five-day period in the green.
At the close: DJIA: +0.86%, S&P 500: +0.88%, NASDAQ: +0.97%.
1) Since the economic crash a few years ago, the U.S. has had a bumpy, jerky, and sometimes upside-down experience trying to get its footing back so the country can move forward in a more sustainable fashion.
One idea that has been put in place to help pick up the pieces is the Central Bank’s asset-buying program. Recently, though, this program has been raising some concerns and questions, and two fed officials came in recently to defend it. Boston Fed President Eric Rosengren and Fed Governor Jerome Powell claim that the asset-purchasing program is beneficial for the fiscal health of the country overall… (Read more.)