“Courteous Treatment Will Make A Customer A Walking Advertisement” – James Cash (JC) Penney
Markets Rebound in U.S. Thanksgiving Week
Stocks ended higher on Friday after U.S. indexes reopened for an abbreviated trading session following the Thanksgiving holiday. The S&P/TSX composite index closed at 12,213.24, up 60.14 points or 0.5% — marking its sixth straight gain. The U.S. S&P 500 closed at 1409.15, up 18.12 points or 1.3% — driving the benchmark index to its fifth consecutive gain. The blue-chip Dow Jones industrial average closed at 13,009.68, up 172.79 points or 1.3 %. The gains continue a winning streak for stocks, following a selloff that began in September.
German Business Confidence Rises
Traders have found encouragement from an unexpected rise in German business confidence. The Ifo institute said its business climate index climbed to 101.4 this month, beating expectations for about 99.5. It was a welcome reading that prompted some economists to speculate that the better-than-expected factory data from the U.S. and China this week may eventually help benefit German industry.
The TSX closed at 12213, up 336 points or +2.82% over the past week. YTD the TSX is up 2.2%.
The DOW closed at 13009, up 421 points or +3.35% over the past week.YTD the DOW is up 6.5%.
The S&P 500 closed at 1409, up 50 points or +3.62% over the past week.YTD the S&P is up 12.1%.
The Nasdaq closed at 2966, up 113 points or +3.99% over the past week.YTD the Nasdaq is up 13.9%.
Sources: Bloomberg; globeadvisor; advisor.ca.