Stocks end rough week with gains
Traders work on the floor of the New York Stock Exchange. The Dow Jones industrial average rose 134.72 points, or 1.21 percent, to close at 11,284.54. It was up 4.3 percent for the week after being down the past four. (Aug. 26, 2011) Credit: Getty
The Dow Jones industrial average ended another turbulent week with a strong gain Friday after Federal Reserve Chairman Ben Bernanke said the United States was headed for long-term economic growth. It was the first winning week in a month.
Trading volume was light, a sign that many traders were leaving New York ahead of Hurricane Irene. The storm is expected to reach the region on Saturday. A spokesman for the New York Stock Exchange said trading is expected to open as usual Monday.
Bernanke announced no new economic stimulus measures during his speech at a conference in Jackson Hole, Wyo., as some investors had hoped.
Indexes fell sharply as the speech was released at 10 a.m. recovered within an hour and stayed higher the rest of the day.
The Dow Jones industrial average rose 134.72 points, or 1.21 percent, to close at 11,284.54. It was up 4.3 percent for the week after being down the past four.
The Standard & Poor's 500 index rose 17.53, or 1.51 percent, to 1,176.80. It rose 4.7 percent for the week, its biggest gain since the week ended July 1.
The technology-heavy Nasdaq composite index rose 60.22, or 2.49 percent, to 2,479.85.
Sarra Sounds Off, Ep. 15: LI's top basketball players On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra and Matt Lindsay take a look top boys and girls basketball players on Long Island.
Sarra Sounds Off, Ep. 15: LI's top basketball players On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra and Matt Lindsay take a look top boys and girls basketball players on Long Island.
