Stocks Cap Volatile Year with a Weekly Loss (AAPL, AMZN, BAC, GOOG, MCD, MJN ...
22.05.12
(Tradershuddle.com) – Stocks fell for the week amid thin trading volume and anemic news flow, which included some encouraging economic reports in the U.S. and decent Italian bond auctions that helped eased jitters in Europe surrounding Italy’s funding needs over the next few months. The week also brought weaker than expected Chinese PMI, which highlighted the slowdown in the Chinese economy. The week capped a volatile year, which was dominated by news of the European debt crisis, natural disasters, sovereign credit rating downgrades, including the first ever U.S. downgrade that resulted after the lack of leadership and political brinkmanship in Washington, preventing politicians to come up with a sensible plan to address the U.S. ballooning debt problem.
For the week, the blue chip index fell 0.62%; the S&P 500 Index slid 0.61% and the NASDAQ lost 0.52%.
And for the year, the Dow closed with a 5.5% gain, while the NASDAQ lost 1.8% and the S&P 500 ended near the unchanged line.
Source: TradersHuddle.com