In a week of wild, scenic railway type undulations, Wall Street ended the week rattling higher — although who knows what’s around the next bend.
The three key indices all made solid gains just before the end of trade; the S&P 500 rose 1.8%, while the Dow and Nasdaq both gained 1.6% over the session.
Remarkably, when everything settled at the close of business, the S&P 500 was up 5.7% over the week.
The ASX gave up just 0.3%, while Eurozone shares were down 1.4% Japan down 0.6% and China 2.9% over the week.
Wall Street sentiment changed mid-session after some comforting words from two Federal Reserve officials.
Boston Federal Reserve President Susan Collins gave assurances that the Fed is prepared to keep financial markets functioning should the need arise, telling London’s Financial Times that “we’re not seeing liquidity concerns” and that “markets are continuing to function well”.
Veteran…
