US stocks post weekly gains, but close with monthly losses
FXStreet (Córdoba) – US stocks rallied on Friday and closed the week with gains, but despite the recent recovery, the main indexes ended the month with heavy losses following steep declines during the first weeks of the year.
US stocks soared on Friday after the Bank of Japan unexpectedly cut rates into negative, to -0.1%, also helped by a modest recovery in oil prices.
The Dow Jones Industrial Average gained 394.45 points, or 2.47%, to 16,466.09 and posted a 2.3% weekly gain. The S&P 500 rose 46.65 points, or 2.48%, to 1,940.02 and closed the week 1.7% higher but lost 5% over the month. The Nasdaq Composite climbed 107.28 points, or 2.38%, to 4,613.95 and finished the week virtually unchanged.
(Market News Provided by FXstreet)