The New York Stock Exchange ended the week on a decidedly optimistic tone on Friday, banking on upcoming central bank action to stimulate a faltering global economy: the Dow Jones gained 0.77% and the Nasdaq 0.54%. In Toronto, investors were less enthusiastic, with the S & P / TSX advancing a meager 0.16%.
According to the final results at the close, the S & P / TSX index gained 19.72 points to 12,082.23 points, the Dow Jones Industrial Average appreciated 100.05 points to 13,157.51 points and the Nasdaq won 16.39 points to 3,069.79 points.
The extended Standard & Poor’s 500 index rose 0.65% (+9.05 points to 1,411.13 points).
After an opening in the red, the major Wall Street indices are frankly returned to the green, in a context of relative appeasement in the euro zone and heightened hopes of an imminent intervention by the American Central Bank (Fed), under the form of further monetary easing.
Although the mood of brokers may have fluctuated in recent days, over the course of interventions by executive members of the Fed blowing cold and hot, traders continue to count “on action by the Fed in the coming weeks,” he said. noted David Levy, of Kenjol Management.
Since the end of July, the hope of an imminent intervention by the Fed and the European Central Bank (ECB) have supported the recovery of the rating.
In addition to an upcoming monetary policy meeting of the institution in September, the market is now awaiting the end of August for the return to school speech by Fed Chairman Ben Bernanke in Jackson Hole (Wyoming) in the United States, to see signs on the outlook for monetary authorities.
In addition, “brokers have more hopes that things will progress in Europe, especially with regard to the situation in Greece, and the attitude of Germany,” noted Michael James of Wedbush Securities.
Relieving the market, German Chancellor Angela Merkel thus assured Greek Prime Minister Antonis Samaras of her support, by defending Greece’s place in the euro zone.
The indices had opened “under pressure” following the publication of a mixed report on durable goods orders in the United States in July, noted experts Charles Schwab.
The bond market ended slightly lower. The yield on the 10-year Treasury bill rose to 1.678% against 1.666% on Thursday and that at 30 years, to 2.792% against 2.780%.
The Canadian dollar appreciated 0.22% to end the week at US $ 1.008.
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