Market in Review: Week of 3/8/14
By Angie Hembury
Stock prices got punished in the first session of the week as tensions between Russia and Ukraine escalated. The Dow faltered by 0.9%, while both the S&P 500 and the Nasdaq lost 0.7%.
Geopolitical unrest dissipated Tuesday after Russia pulled troops back from the Ukrainian border and investors celebrated by going on a buying spree sending the Major Indexes into record territory. The Dow soared 227.85 points, or 1.4%, its best day of 2014. The S&P 500 climbed 28.18 points, or 1.5%, a new record closing high and the Nasdaq hit a fresh 14-year high, picking up 74.67 points, or 1.8%.
Stocks took a breather mid-week as investors digested the latest round of lackluster economic data on jobs and the service sector. The Dow slid a modest 0.2%, the S&P 500 ended essentially flat and the Nasdaq managed a 0.1% gain to end at another new 14-year record high.
Although the Labor Department reported that the number of people filing for unemployment benefits dropped to its lowest level in three months, investors remained cautious in Thursday's trading session as they awaited Friday's non-farm payrolls report. The Dow Jones Industrial average rose 0.4% and the S&P 500 gained just 0.2%, enough to push it to another record high. Meanwhile, the Nasdaq fell a paltry 0.1%.
A better-than-expected jobs report eased fears of an economic slowdown Friday and Wall Street ended the day mostly higher. The Dow finished 0.19% higher, the S&P 500 gained a modest 0.05%, while the Nasdaq ended the day 0.37% lower.
Despite the ongoing crisis in Ukraine, all three Major Indexes managed to finish the week with a gain. And that's The Market In Review.