NASDAQ Hits Highest Level Since 2000, Dow Moves Closer to 18k Mark Again
February 13, 2015 6:40 am
Asian shares soared on Friday on news of a ceasefire accord in Ukraine, while Sweden’s surprise move to cut its main rate into negative territory as well as hopes of a resolution between debt-strapped Greece and its creditors burnished risk appetite. U.S. stocks ended sharply higher on Thursday, with a rally in technology stocks leading the Nasdaq to a 15-year high, while a ceasefire agreement between Russia and Ukraine also eased tensions. The Dow closed 110 points higher to 17,972 and the S&P500 closed 19 points higher at 2,088.
The Euro rose to this week’s high of $1.1440 on Thursday and last stood at $1.1437, on track to post the third straight week of gains. The Yen also climbed to 118.55 against the Dollar, off a five-week low of 120.48 hit on Wednesday. Sterling joined the fray and jumped after the Bank of England raised its UK growth and inflation forecasts, hitting a six-week high of $1.5415 on Thursday. It last stood at $1.5412.
Oil prices were firm after gains steered by deeper industry spending cuts and a fall in the dollar. Brent crude futures held at $59.10 per barrel. U.S. crude futures were up 77 cents at $51.98, following similar swings earlier in the week.
Rolls Royce reported an underlying revenue drop of 6% in its full-year results for 2014, caused by reduced defence-customer spending and flailing commodity prices. The company also revealed on Friday that is has appointed a former HSBC banker as a new non-executive director on its board. The stock was down half a percent in early trade at 900p per share.
Asian shares soared on Friday on news of a ceasefire accord in Ukraine, while Sweden’s surprise move to cut its main rate into negative territory as well as hopes of a resolution between debt-strapped Greece and its creditors burnished risk appetite. U.S. stocks ended sharply higher on Thursday, with a rally in technology stocks leading the Nasdaq to a 15-year high, while a ceasefire agreement between Russia and Ukraine also eased tensions. The Dow closed 110 points higher to 17,972 and the S&P500 closed 19 points higher at 2,088.
The Euro rose to this week’s high of $1.1440 on Thursday and last stood at $1.1437, on track to post the third straight week of gains. The Yen also climbed to 118.55 against the Dollar, off a five-week low of 120.48 hit on Wednesday. Sterling joined the fray and jumped after the Bank of England raised its UK growth and inflation forecasts, hitting a six-week high of $1.5415 on Thursday. It last stood at $1.5412.
Oil prices were firm after gains steered by deeper industry spending cuts and a fall in the dollar. Brent crude futures held at $59.10 per barrel. U.S. crude futures were up 77 cents at $51.98, following similar swings earlier in the week.
Rolls Royce reported an underlying revenue drop of 6% in its full-year results for 2014, caused by reduced defence-customer spending and flailing commodity prices. The company also revealed on Friday that is has appointed a former HSBC banker as a new non-executive director on its board. The stock was down half a percent in early trade at 900p per share.
Related Posts: