Dow Jones Rises to Complete Positive Week
May 8, 2009 by Stephen Kersey
Filed under Business
This has been a good week for the stock market. On Friday, stocks rose once again to put an exclamation point on the week.
The Dow Jones industrial average was up approximately 2% to 8,675.7. The S&P’s 500 index was up nearly 2.5% to 929.2, while NASDAQ was up more than 1% to 22.8. For the week, the Dow Jones rose nearly 4.5%, the S&P rose nearly 6% and NASDAQ rose more than 1%.
The two biggest reasons most stock market experts give for the jump on Friday were the results of the stress test on the banking industry and the result of the Labor Department’s job report. While the stress test showed that many banks need to raise more money, the results were as devastating as many experts predicted. In April, the job losses recorded in the month were the fewest in six months.
Overall, many experts believe that the stock market could continue to rise gradually for the rest of 2009 as the national and global economic woes improve.
NASDAQ (Image: Flickr)
