Equities New York conclusion: Market recovery brings Dow biggest weekly plus since 2020

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NEW YORK (dpa-AFX) – The US stock exchanges continued their recent recovery on Friday. After the price slide, especially from the end of April to mid-May, bargain hunters grabbed it again and used the supposedly cheap prices to get started, said stockbrokers. In addition, over the course of the week, investors had taken the minutes of the US Federal Reserve Bank of the most recent interest rate meeting as evidence that monetary policy was only gradually tightened to combat high inflation. The leading index Dow Jones Industrial made it the biggest weekly percentage gain since November 2020, up 6.24 percent.

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On Friday, the Dow started the long weekend up 1.76 percent to 33,212.96 points after falling to its lowest level in more than a year seven days ago. The US stock market will remain closed on Monday for the Memorial Day holiday.

The market-wide S&P 500 gained 2.47 percent on Friday to 4158.24 points. The tech-heavy Nasdaq 100 increased by 3.30 percent to 12,681.42 points./la/he

Source: dpa-AFX

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