News / USA

World Markets Rise Modestly On Better US Data

Trader Gregory Rowe and specialist Jennifer Klesaris work on the floor of the New York Stock Exchange, Friday, Aug. 12, 2011
Trader Gregory Rowe and specialist Jennifer Klesaris work on the floor of the New York Stock Exchange, Friday, Aug. 12, 2011
TEXT SIZE - +

Financial markets held on to gains Friday, ending a tough week marked by wild, up and down swings in stock prices.  Fears that the global economy was heading for a downturn fueled sharp declines this week, precipitated by the first ever downgrade of U.S. debt.  Worries intensified on rumors that European countries could be next.  Since then, a few bright spots in the U.S.outlook appear to have stopped the bleeding.  The question is -- for how long?

Wall Street concluded a turbulent week on an upbeat note -- stringing together two back to back days in positive territory.  Reports that jobless claims fell last month helped lift the Dow Jones index nearly four percent higher on Thursday.

And on Friday another report showing consumers spent more than expected in July gave investors a confidence boost.  

But that was last month.  A new report shows consumer confidence plunging to a new low in August.

"Right now consumers are hearing a lot about the volatility in the stock market and the likelihood that there will be further negative news and that certainly doesn't weigh favorably on consumer sentiment. So the degree in which consumers are digesting that and and having that impact on their wallets remains to be seen but we certaintly expect if this negative news continues to make consumers a little bit more hesitant to spend money," said Retail strategist John Long.

In Europe, markets were also broadly higher Friday -- helped in part by a ban on short-selling: a practice in which investors make money by borrowing shares at a higher price -- which they then sell quickly -- hoping the price will drop -- so they can buy them back at a lower price -- and pocket the difference.

Regulators blame short selling for some of the market volatility this week.

German trader Robert Halver expressed relief as the trading week came to a close. "It's Friday, thank God, there's a weekend coming and as you can see the DAX has closed the session in positive territory. Wonderful, I'm happy that the week has ended," said Halver.

On Wall Street, Friday marked the first time in more than a month that major indices have had two good days in a row.

The Dow gained more than one percent - up 125 points.

But the relief may be shortlived -- analystS say the market instability is likely to resume again next week.

You May Like

Analysts Warn of Regional Proxy Conflict in Afghanistan

Analysts warn if Kabul’s neighbors do not start to cooperate, competing desires for influence could deteriorate into a bloody proxy war in the country More

Saudi Intelligence Chief Replaced

Bandar bin Sultan came under criticism for supporting al Qaida, prompting King Abdallah to wrest Syria operations away from him in February, handing them to Interior Minister Prince Mohammed bin Nayef More

Poetry Magazine editor Don Share talks what makes a good poem with VOA's David Byrd

What makes a good poem? And is poetry as viable an art form as it once was? To find out, VOA's David Byrd spoke to Don Share, the editor of Poetry Magazine. More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Google Buys Drone Companyi
|| 0:00:00
...
 
🔇
X
George Putic
April 15, 2014
In its latest purchase of high-tech companies, Google has acquired a manufacturer of solar-powered drones that can stay in the air almost indefinitely, relaying broadband Internet connection to remote areas. It is seen as yet another step in the U.S. based Web giant’s bid to bring Internet to the whole world. VOA’s George Putic reports.
Video

Video Google Buys Drone Company

In its latest purchase of high-tech companies, Google has acquired a manufacturer of solar-powered drones that can stay in the air almost indefinitely, relaying broadband Internet connection to remote areas. It is seen as yet another step in the U.S. based Web giant’s bid to bring Internet to the whole world. VOA’s George Putic reports.
Video

Video Ray Bonneville Sings the Blues and More on New CD

Singer/songwriter Ray Bonneville has released a new CD called “Easy Gone” with music that reflects his musical and personal journey from French-speaking Canada to his current home in Austin,Texas. The eclectic artist’s fan base extends from Texas to various parts of North America and Europe. VOA’s Greg Flakus reports from Austin.
Video

Video Millions Labor in Pakistan's Informal Economy

The World Bank says that in Pakistan, roughly 70 percent work in the so-called informal sector, a part of the economy that is unregulated and untaxed. VOA's Sharon Behn reports from Islamabad on how the informal sector impact's the Pakistani economy.
Video

Video Passover Celebrates Liberation from Bondage

Jewish people around the world are celebrating Passover, a commemoration of their liberation from slavery in Egypt more than 3,300 years ago. According to scripture, God helped the Jews, led by Moses, escape bondage in Egypt and cross the Red Sea into the desert. Zlatica Hoke reports that the story of the Jewish Exodus resonates with other people trying to escape slave-like conditions.
Video

Video Police Pursue Hate Crime Charges Against Kansas Shooting Suspect

Prosecutors are sifting through the evidence in the wake of Sunday’s shootings in a suburb of Kansas City, Missouri that left three people dead. A suspect in the shootings taken into custody is a white supremacist. As VOA’s Kane Farabaugh reports, he was well-known to law enforcement agencies and human rights groups alike.
Video

Video In Eastern Ukraine, Pro-unity Activists Emerge from Shadows

Amid the pro-Russian uprisings in eastern Ukraine, there is a large body of activists who support Ukrainian unity and reject Russian intervention. Their activities have remained largely underground, but they are preparing to take on their pro-Moscow opponents, as Henry Ridgwell reports from the eastern city of Donetsk.
Video

Video Basket Maker’s Skills Have World Reach

A prestigious craft show in the U.S. capital offers one-of-a-kind creations by more than 120 artists working in a variety of media. As VOA’s Julie Taboh reports from Washington, one artist lucky enough to be selected says sharing her skills with women overseas is just as significant.
Video

Video UN Report Urges Speedier Action to Avoid Climate Disaster

A new United Nations report says the world must switch from fossil fuels to cleaner energy sources to control the effects of climate change. The Intergovernmental Panel on Climate Change released the report (Sunday) following a meeting of scientists and government representatives in Berlin. The comprehensive review follows two recent IPCC reports that detail the certainty of climate change, its impacts and in this most recent report what to do about it. VOA’s Rosanne Skirble has the details.
AppleAndroid