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

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

US Investors Eye IPO for China's Alibaba

E-commerce giant handled 80 percent of China's online business last year, logging more Internet transactions than US-based Amazon.com and eBay combined More

Video Uneasy Calm Settles Over Israel, Gaza Strip

As cease-fire begins, Palestinians celebrate in streets; Israelis remain wary More

Video Chinese Doctors Use 3-D Spinal Implant

In treatment of a 12-year-old boy Chinese doctors used a 3-D printer and special software to create an exact replica of vertebra 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.
Chinese Doctors Use 3-D Spinal Implanti
X
August 27, 2014 4:53 PM
A Chinese boy suffering from a debilitating bone disease has become the first patient with a part of his spine created in a three-dimensional printer. Doctors say he will soon regain normal mobility. VOA’s George Putic reports.
Video

Video Chinese Doctors Use 3-D Spinal Implant

A Chinese boy suffering from a debilitating bone disease has become the first patient with a part of his spine created in a three-dimensional printer. Doctors say he will soon regain normal mobility. VOA’s George Putic reports.
Video

Video Uneasy Calm Settles Over Israel, Gaza Strip

Israel and the Gaza Strip have been calm since a cease-fire set in Tuesday evening, ending seven weeks of hostilities. Hamas, which controls Gaza, declared victory. Israelis were more wart. VOA’s Scott Bobb reports from Jerusalem.
Video

Video India’s Leprosy Battle Stymied by Continuing Stigma

Medical advancements in the treatment of leprosy have greatly diminished its impact around the world, largely eliminating the disease from most countries. India made great strides in combating leprosy, but still accounts for a majority of the world’s new cases each year, and the number of newly infected Indians is rising - more than 130,000 recorded last year. Doctors there say the problem has more to do with society than science. VOA News reports from Kolkata.
Video

Video Northern California Quake: No Way to Know When Next One Will Hit

A magnitude 6.0 earthquake rocked northern California’s Napa Valley on Sunday. Roads twisted and water mains burst. It was the wine country’s most severe quake in 15 years, and while hospitals treated many people, no one was killed. Arash Arabasadi has more from Washington on what the future may hold for those residents living on a fault line.
Video

Video Scientists Unlock Mystery of Bird Flocks

How can flocks of birds, schools of fish or herds of antelope suddenly change direction -- all the individuals adjusting their movement in concert, at seemingly the same time? British researchers now have some insights into this behavior, which has puzzled scientists for a long time. VOA's George Putic has more.
Video

Video Ukraine: Captured Troops Proof of Russian Role in Separatist Fight

Ukrainian officials say they have captured Russian soldiers on Ukrainian territory -- the latest accusation of Moscow's involvement in the conflict in eastern Ukraine. VOA's Gabe Joselow reports from the Ukrainian side of the battle, where soldiers are convinced of Russia's role.
Video

Video Rubber May Soon Come From Dandelions

Synthetic rubber has been around for more than a century, but quality tires for cars, trucks and aircraft still need up to 40 percent or more natural rubber content. As the source of natural rubber, the rubber tree, is prone to disease and can be affected by bad weather. So scientists are looking for replacements. And as VOA’s George Putic reports, they may have found one in a ubiquitous weed.
Video

Video Jewish Life in Argentina Reflected in Yiddish Tango

Jewish people from across Europe and Russia have been immigrating to Argentina for hundreds of years. They brought with them dance music that were eventually mixed with Argentine tango. The result is Yiddish tango -- a fusion of melodies and cultural experiences that is still evolving today. Elizabeth Lee reports from the Skirball Cultural Center in Los Angeles, where one band is bringing Yiddish tango to an American audience.

AppleAndroid