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Markets
Stocks closed sharply higher Friday to finish their best week in two years following a stronger than expected manufacturing report that helped calm some doubts over the slowing recovery. The Dow Jones Industrial Average rose 168.43 points, or 1.36 percent, to close at 12,582.77. All 30 stocks on the blue-chip index gained. The S&P 500 gained 19.03 points, or 1.44 percent, to end at 1,339.67. The Dow and S&P 500 logged their biggest weekly percentage gain since mid-July, 2010. The Nasdaq rose 42.51 points, or 1.53 percent, to finish at 2,816.03, marking its best weekly gain in almost two years.
DJIA
FOREX
The Euro zone is set to release a vital installment of aid money for Greece but will leave the final decision on a second bailout for the debt ridden country until later this summer.
The finance ministers of the 17 countries that use the Euro will sign off on an Euro 8.7 billion ($12.6 billion) installment of Greece’s existing bailout in a conference call Saturday evening. An extra Euro 3.3 billion will come from the IMF.
Without the Euro 12 billion, Greece would have defaulted on its massive debts within days.
The country needs tens of billions of Euros in further assistance over the coming years, but ministers have delayed a second aid package until they know what private run
banks and other private creditors will contribute.
EURUSD
COMMODITIES
Oil prices slipped after China’s factory output grew at its slowest pace in 28 months and as the USD gained in value . Crude declined 48 cents to settle at $94.94 a barrel, while London Brent crude fell 71 cents to $111.77 a barrel. Gold fell more than 1 percent to a six-week low near $1,480 an ounce.
GOLD
EQUITIES
GM and Ford gained after both automakers said sales climbed more than 10 percent in June. Toyota, among others, are also expected to report throughout the day. Hulu has started preliminary sales talks with potential buyers, including Google, Microsoft and Yahoo, according to reports. Last year, the online video site planned to raise $200 million to $300 million in a public offering that would have valued the company at about $2 billion.
Markets
Stocks closed sharply higher Friday to finish their best week in two years following a stronger than expected manufacturing report that helped calm some doubts over the slowing recovery. The Dow Jones Industrial Average rose 168.43 points, or 1.36 percent, to close at 12,582.77. All 30 stocks on the blue-chip index gained. The S&P 500 gained 19.03 points, or 1.44 percent, to end at 1,339.67. The Dow and S&P 500 logged their biggest weekly percentage gain since mid-July, 2010. The Nasdaq rose 42.51 points, or 1.53 percent, to finish at 2,816.03, marking its best weekly gain in almost two years.
DJIA
FOREX
The Euro zone is set to release a vital installment of aid money for Greece but will leave the final decision on a second bailout for the debt ridden country until later this summer.
The finance ministers of the 17 countries that use the Euro will sign off on an Euro 8.7 billion ($12.6 billion) installment of Greece’s existing bailout in a conference call Saturday evening. An extra Euro 3.3 billion will come from the IMF.
Without the Euro 12 billion, Greece would have defaulted on its massive debts within days.
The country needs tens of billions of Euros in further assistance over the coming years, but ministers have delayed a second aid package until they know what private run
EURUSD
COMMODITIES
Oil prices slipped after China’s factory output grew at its slowest pace in 28 months and as the USD gained in value . Crude declined 48 cents to settle at $94.94 a barrel, while London Brent crude fell 71 cents to $111.77 a barrel. Gold fell more than 1 percent to a six-week low near $1,480 an ounce.
GOLD
EQUITIES
GM and Ford gained after both automakers said sales climbed more than 10 percent in June. Toyota, among others, are also expected to report throughout the day. Hulu has started preliminary sales talks with potential buyers, including Google, Microsoft and Yahoo, according to reports. Last year, the online video site planned to raise $200 million to $300 million in a public offering that would have valued the company at about $2 billion.