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US stocks log gains for fourth week in a row

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Saturday, April 4, 2009

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United States stock indexes posted gains on Friday, marking a four-week long positive streak. This comes despite a report released by the US Labor Department on the same day, which said that the US economy shed 663,000 jobs in March, with the unemployment rate reaching 8.5%, the highest since 1983.

The Dow Jones Industrial Average posted a modest gain of half a percent or 39 points, ending the day at 8,017. The index has not closed above 8,000 since February. The last time the Dow had risen for four weeks in a row was between September and October of 2007, when the stock index reached its all-time high of over 14,000. The streak is the index's best since 1993.

The broader S&P 500 gained eight points, or one percent, by the closing bell. The Nasdaq Composite had the largest gains of the three indexes, up 1.2% to 1,622. Both the S&P and the Dow gained over 3% over the course of the week, while the Nasdaq was up almost 5%.

In other markets, both the German DAX and the Japanese Nikkei 225 indexes remained even, whilst the British FTSE 100 slipped 2.3%.


Sources

  • Tim Paradis and Malden Read. Street looks past job data, logs 4th week of gains — Associated Press, April 3, 3009
  • Rob Curran. UPDATE: Stocks Up; DJIA Has Best 4-Week Streak Since 1933 — The Wall Street Journal, April 3, 2009
  • Renae Merle. Markets Rise for Fourth Day in a Row — The Washington Post, April 3, 2009


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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.

The text of this article is licensed under the terms of the Creative Commons Attribution 2.5 License
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