NEW YORK, Oct 26 (Reuters): US stocks closed out their best week in
nearly two years on Friday, helped by earnings from Microsoft and
Procter & Gamble and as concerns eased over the possible spread of
Ebola in the United States.
The S&P 500 was up 5.5 per cent from its low on October 15 and had its best weekly gain in nearly two years, boosted by solid corporate earnings reports.
News of the first case of Ebola diagnosed in New York City hit futures late on Thursday, but the markets shook off those concerns on Friday. A doctor being treated for Ebola in a New York City hospital is in stable condition, the city's health commissioner said, while the World Health Organisation set out plans for speeding up development and deployment of experimental Ebola vaccines.
"I am encouraged by the fact that the market seems to be having a cooler head about the most recent Ebola news," said Steve Sosnick, equity risk manager at Timber Hill/Interactive Brokers. "It feels like a market that's trying to consolidate some very sharp moves."
Shares of Microsoft rose 2.5 per cent to $46.13, after the company reported higher-than-expected quarterly revenue while keeping profit margins largely intact.
The S&P 500 was up 5.5 per cent from its low on October 15 and had its best weekly gain in nearly two years, boosted by solid corporate earnings reports.
News of the first case of Ebola diagnosed in New York City hit futures late on Thursday, but the markets shook off those concerns on Friday. A doctor being treated for Ebola in a New York City hospital is in stable condition, the city's health commissioner said, while the World Health Organisation set out plans for speeding up development and deployment of experimental Ebola vaccines.
"I am encouraged by the fact that the market seems to be having a cooler head about the most recent Ebola news," said Steve Sosnick, equity risk manager at Timber Hill/Interactive Brokers. "It feels like a market that's trying to consolidate some very sharp moves."
Shares of Microsoft rose 2.5 per cent to $46.13, after the company reported higher-than-expected quarterly revenue while keeping profit margins largely intact.
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