Investing.com - U.S. stocks rebounded on Friday, following steep falls in the previous sessions amid concerns that the Federal Reserve may wind down its bond-buying program sooner than expected.
The Dow Jones industrial average was up 0.9% on Friday to finish the week with a 0.1% gain. The S&P 500 rose 0.9% on Friday, but ended the week down 0.3%, snapping seven successive weekly gains. The Nasdaq was up 1% Friday but lost almost 1% for the week.
Investor confidence was hit after Wednesday’s minutes of the Fed’s January meeting showed that policymakers discussed the slowing or stopping of bond purchases even before the job market improves, amid concerns that the policy could cause instability in financial markets.
Market sentiment recovered on Friday, boosted by upbeat earnings reports from Hewlett-Packard and American International Group, as well as stronger-than-forecast data on German business confidence.
Shares in personal computer maker HP rallied 12% after the company reported a quarterly profit than exceeded analysts’ expectations. Shares in AIG rose 3.1% after the company announced surprise operating profits.
Meanwhile, in the euro zone data showed that the Ifo index of German business climate jumped to 107.4 from 104.3 in January, outstripping expectations for a reading of 105.0.
The benchmark Stoxx Europe 600 climbed 1.3% on Friday, recovering the losses of the previous session, ending the week 0.4% higher. Germany’s DAX rose 1% and gained 0.9% for the week.
Italy’s FTSE MIB index advanced 1.4% Friday after closing at a two month low on Thursday. Investors remained cautious ahead of the outcome of the upcoming general elections in Italy, amid wariness that a hung parliament could hamper efforts to implement further economic reforms.
In Asia, Japan's Nikkei Stock Average was up 0.7% and was 1.9% higher on the week, while Australia's S&P/ASX 200 was up 0.8% on Friday, but still ended the week 0.3% lower, snapping five consecutive weeks of gains.
Elsewhere, China's Shanghai Composite Index fell 0.5% to a one-month low and declined 4.9% on the week. Hong Kong's Hang Seng Index also slid 0.5% and fell 2.8% for the week amid fears of more moves by the government to cap rising property prices.
The Dow Jones industrial average was up 0.9% on Friday to finish the week with a 0.1% gain. The S&P 500 rose 0.9% on Friday, but ended the week down 0.3%, snapping seven successive weekly gains. The Nasdaq was up 1% Friday but lost almost 1% for the week.
Investor confidence was hit after Wednesday’s minutes of the Fed’s January meeting showed that policymakers discussed the slowing or stopping of bond purchases even before the job market improves, amid concerns that the policy could cause instability in financial markets.
Market sentiment recovered on Friday, boosted by upbeat earnings reports from Hewlett-Packard and American International Group, as well as stronger-than-forecast data on German business confidence.
Shares in personal computer maker HP rallied 12% after the company reported a quarterly profit than exceeded analysts’ expectations. Shares in AIG rose 3.1% after the company announced surprise operating profits.
Meanwhile, in the euro zone data showed that the Ifo index of German business climate jumped to 107.4 from 104.3 in January, outstripping expectations for a reading of 105.0.
The benchmark Stoxx Europe 600 climbed 1.3% on Friday, recovering the losses of the previous session, ending the week 0.4% higher. Germany’s DAX rose 1% and gained 0.9% for the week.
Italy’s FTSE MIB index advanced 1.4% Friday after closing at a two month low on Thursday. Investors remained cautious ahead of the outcome of the upcoming general elections in Italy, amid wariness that a hung parliament could hamper efforts to implement further economic reforms.
In Asia, Japan's Nikkei Stock Average was up 0.7% and was 1.9% higher on the week, while Australia's S&P/ASX 200 was up 0.8% on Friday, but still ended the week 0.3% lower, snapping five consecutive weeks of gains.
Elsewhere, China's Shanghai Composite Index fell 0.5% to a one-month low and declined 4.9% on the week. Hong Kong's Hang Seng Index also slid 0.5% and fell 2.8% for the week amid fears of more moves by the government to cap rising property prices.