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US market indices up

16 March 2009 08:40 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. The Standard & Poor’s 500 index rose 5.81, or 0.8 percent, to 756.55. The Nasdaq composite index rose 5.40, or 0.4 percent, to 1,431.50, AP reported.
For the week, the Dow jumped 9 percent, the S&P 500 index added 10.7 percent and the Nasdaq rose 10.6 percent. It was the best week for the major indexes since the week ended Nov. 28.
Still, the Dow and the S&P 500 index remain down by about half from their peak in October 2007.
The Dow Jones Wilshire 5000 index, which reflects nearly all stocks traded in America, jumped 10.7 percent for the week. That’s a paper gain of about $900 billion.
On Friday, Citigroup rose 11 cents, or 6.6 percent, to $1.78, while Bank of America fell 9 cents, or 1.5 percent, to $5.76. Wells Fargo slipped 1 cent to $13.94.
General Motors extended its gains on Friday, jumping 54 cents, or 24.8 percent, to $22.72. For the week, GM rose 88 percent.
More than 2 stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 6.65 billion shares compared with 7.2 billion shares traded Thursday.
Bonds were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.90 percent from 2.86 percent late Thursday. The yield on the three-month T-bill fell to 0.20 percent from 0.22 percent Thursday.
The dollar fell against other most other major currencies, while gold prices rose.
Light, sweet crude for April delivery fell 78 cents to settle at $46.25 a barrel on the New York Mercantile Exchange.
Overseas, Britain’s FTSE 100 rose 1.1 percent, Germany’s DAX index slipped 0.7 percent, and France’s CAC-40 rose 0.4 percent. Japan’s Nikkei stock average jumped 5.2 percent.