Stocks Finish Week On a Down Note
The U.S. stock markets continued to
see weakness throughout most of Friday’s session, but was able to
climb back slightly off the low’s of the day. A continued
increase in the price of oil has generated some of the negative
sentiment.
Crude prices moved up once again to
close at $61.00 per barrel. Stockpiles of crude and
distillates continue declining and news on Iran’s nuclear program
continued to keep crude prices up. Gold and silver reached
9-month highs with gold closing up 0.5% to $686.70 an ounce and
silver up 2.4% to $14.59 an ounce.
Around Europe, the U.K.’s
FTSE 100 index climbed 0.32% to 6,401.50, while France’s CAC 40
index rose 0.15% to 5,716.38 and Germany’s DAX index surged up
0.27% to 6,992.58.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com