Market in Review for February 14, 2014
By Angie Hembury
Stock prices extended gains to three consecutive days on Monday in relatively lackluster trading ahead of new Federal Reserve chief Janet Yellen's first testimony to Congress. The Dow picked up a modest 0.05%, the S&P 500 rose 0.2% and the Nasdaq, the biggest winner for the day, gained 0.5%.
Fed Chair Janet Yellen comforted Wall Street Tuesday indicating that the central bank will continue providing stimulus to boost the economy and the Major Indices soared. The Dow climbed 193 points, or 1.2%, the S&P 500 added 20 points, or 1.1%, and the Nasdaq increased 43 points, or 1.0%.
Disappointing results from Proctor & Gamble and FireEye and a downgrade for Amazon caused stock prices to end mixed mid-week. Both the Dow and S&P 500 broke their four-day winning streak, ending 0.2% and 0.03% lower, respectively, while the Nasdaq grabbed a slight gain of 0.2%.
The Major Indices fought back Thursday, ending higher, even in the face of weaker-than-expected economic data. The Dow pushed back above the 16,000 mark, picking up 63.65 points to end the day at 16,027.59, the S&P 500 gained 10.57 points to end at 1,829.83 and the Nasdaq added 39.38 points to close at 4,240.67.
Stocks ended higher Friday in a broad-based rally as investors continued to shrug off weak economic reports, blaming the bad weather. The Dow ended 126.80 points higher, the S&P closed 8.80 points in the green and the Nasdaq grabbed a modest 3.35 points.
The Major Indices advanced for the second consecutive week making this week their best of the year, overall. And that's The Market In Review.