Dow Rises by 421 Points, Barclays Lawsuit Questions Lead to Share Price Gains
December 19, 2014 7:00 am
Asian shares enjoyed their best day in 15 months on Friday, after Wall Street boasted its biggest two-day advance since late 2011 amid relief the Federal Reserve was in no rush to withdraw stimulus from the U.S. economy. The gains came even as oil stayed under pressure, suggesting equity investors were beginning to see the positives in lower fuel costs and increased consumer spending power. Japan’s Nikkei climbed 2.0% to erase most of its recent losses, while Australia’s main index romped ahead by 2.1%.
U.S. stocks surged on Thursday, extending a Federal Reserve fuelled rally from the previous session and giving the S&P 500 its best two-day advance in three years. The S&P500 closed up by 2.4% at 2,061, whilst the Dow rose an incredible 421 points to close at 17,778.
The Euro resumed its decline against the U.S. dollar, dropping to $1.2276; a long way from the week’s peak of $1.2569 and uncomfortably close to its December trough of $1.2245. The Dollar also regained ground on the Yen, to 119.24.
Oil prices managed to steady for the moment after a wild week. Brent inched up 11 cents to $59.38 having lost over $1.00 on Thursday, while U.S. crude added 21 cents to $54.32.
Within the equity space, the judge overseeing New York state’s lawsuit accusing Barclays of fraud in its alternative trading system on Thursday raised questions about the case, putting the attorney general’s counsel on the defensive. Barclays stock was up 1.7% in early trade at 238p per share.
Asian shares enjoyed their best day in 15 months on Friday, after Wall Street boasted its biggest two-day advance since late 2011 amid relief the Federal Reserve was in no rush to withdraw stimulus from the U.S. economy. The gains came even as oil stayed under pressure, suggesting equity investors were beginning to see the positives in lower fuel costs and increased consumer spending power. Japan’s Nikkei climbed 2.0% to erase most of its recent losses, while Australia’s main index romped ahead by 2.1%.
U.S. stocks surged on Thursday, extending a Federal Reserve fuelled rally from the previous session and giving the S&P 500 its best two-day advance in three years. The S&P500 closed up by 2.4% at 2,061, whilst the Dow rose an incredible 421 points to close at 17,778.
The Euro resumed its decline against the U.S. dollar, dropping to $1.2276; a long way from the week’s peak of $1.2569 and uncomfortably close to its December trough of $1.2245. The Dollar also regained ground on the Yen, to 119.24.
Oil prices managed to steady for the moment after a wild week. Brent inched up 11 cents to $59.38 having lost over $1.00 on Thursday, while U.S. crude added 21 cents to $54.32.
Within the equity space, the judge overseeing New York state’s lawsuit accusing Barclays of fraud in its alternative trading system on Thursday raised questions about the case, putting the attorney general’s counsel on the defensive. Barclays stock was up 1.7% in early trade at 238p per share.
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