12 Feb 2016
US stocks end the day higher but the week lower
US stocks closed the session higher, helped by gains in financials and a strong rally in oil prices, which surged 12% on the day.
The Dow Jones Industrial Average rose 313.66 points, or 2%, to 15,973.84, but lost 1.4% over the week. The S&P 500 gained 35.69 points, or 1.95%, to 1,864.77 but ended the week 0.8% lower. The Nasdaq Composite climbed 70.67 points, or 1.66%, to 4,337.51 and ended the week down 0.6%.
On the data front, US retail sales rose 0.2% in January to a seasonally adjusted $449.9 billion. Sales were expected to grow by 0.1%. Meanwhile compared with a year earlier, retail sales increased 3.4%. Separated data showed February consumer confidence for February came in at 90.7 versus 92.3 expected.
The Dow Jones Industrial Average rose 313.66 points, or 2%, to 15,973.84, but lost 1.4% over the week. The S&P 500 gained 35.69 points, or 1.95%, to 1,864.77 but ended the week 0.8% lower. The Nasdaq Composite climbed 70.67 points, or 1.66%, to 4,337.51 and ended the week down 0.6%.
On the data front, US retail sales rose 0.2% in January to a seasonally adjusted $449.9 billion. Sales were expected to grow by 0.1%. Meanwhile compared with a year earlier, retail sales increased 3.4%. Separated data showed February consumer confidence for February came in at 90.7 versus 92.3 expected.