US Markets Review

Published / Last Updated on 16/03/2002

Monday saw the Dow Jones Industrial Average rise by almost 0.5% with stocks showing gains through most sectors.  The Nasdaq 100 was not so lucky, due to poor earnings news, and closed slightly lower for the day.  Trading today was six months on from the 11 September terrorist attacks. Both indices have made respectable gains since their lows.

Tuesday started with huge losses on the Dow Jones.  However, losses were turned around and the blue chip index closed at a high, not seen for 9 months. The actual gain was marginal and nothing like the huge losses from throughout the day.  The Nasdaq 100 fared less well after the federal regulators started asking telecommunication companies to justify their accounting procedures.  The index closed lower by over 2%.

Wednesday saw bad news in respect of retail sales data.  Despite there being growth of 0.3% in the sector over the month, this was worse than the expected 0.9%. However, the Federal Reserve commented that the economy is beginning to recover from recession and activity is beginning to firm.  Investors did not seem convinced and the Dow Jones ended up over 1% lower for the day.  The Nasdaq 100 fell by over 2%.Following yesterday's heavy downturn.

Thursday saw a slow start from the US, followed by increased upward movement.  The number of people unemployed fell but by a smaller amount than had been expected.  Nevertheless, the number unemployed had fallen again, giving confidence to investors.  By close of play the Dow Jones was slightly higher but the Nasdaq 100 fell by just over 0.5%.

The US had the Friday feeling this week with two pieces of positive data released.  Firstly, the Consumer Sentiment Survey for March showed increased confidence on a higher level than expected.  Secondly, a big increase in industrial production was seen, leading everyone to comment about the US economic recovery.  The Dow Jones ended the day up by almost 1% and the Nasdaq 100 ended up over 1%.

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