U.S. markets ended the week on a high note with the Dow Jones Industrial Average gaining 47.6 points to 10,462.84, the Nasdaq rising 6.28 points to 2,242.48, and the S&P 500 climbing 5.37 points to 1,109.55.
This week, between the news about European bank stress tests, the Federal Reserve’s September release of the Beige Book, the unveiling of President Obama’s economic recovery proposal, the reduction in the trade deficit and in new unemployment claims for last week—economic news was mixed and still lacked a concrete indication of recovery. So while the Dow didn’t increase substantially this week, it did make up for its Tuesday losses and managed to close higher than it has since August 10th, 2010.
The week wasn’t quite as successful for PG&E Corp (NYSE: PCG) following the explosion of one of their gas lines in California on Thursday. Shares of the company fell more than 8 percent as the stock dropped from a closing price of $48.24 on September 9th to $44.16 on September 10th.
European markets were up on Friday while Asian markets were mixed.
Stocks in the news: Nokia Oyj (NYSE: NOK), Enbridge Inc (NYSE: ENB), Microsoft Corp (NASDAQ: MSFT).
