NEW YORK—The U.S. stock market finished last Friday on a high note, ending the trading session with all three major stock indices at new two-year highs.
The Dow Jones Industrial Average closed up 9 points, or 0.1 percent to finish at 11,444 points—its highest close since just before Lehman Brothers announced its bankruptcy in early September 2008.
The S&P 500 Index also trended higher, rising 5 points to settle at 1,226. The Nasdaq Composite Index added 2 points to close relatively flat.
Investors last week cheered a new Federal Reserve stimulus measure pumping more than $600 billion in liquidity into the U.S. markets. The Dow soared last Thursday, jumping more than 2 percent, a day after the measure was announced on Wednesday.
Last week also saw American voters giving control of the House of Representatives to the Republicans during midterm elections, on a strong showing by “Tea Party” backed candidates who championed fiscal responsibility and lower taxes.
A Friday report that the economy added 151,000 jobs in October—the first increase in job count since May—also bolstered investor confidence although the market seesawed much of the day last Friday.
This week, all eyes will be on the G-20 meetings in South Korea starting Thursday, with the focus on balancing budgets and global currencies.
U.S. leaders will attempt to soothe concerns in Asia and Europe about the Federal Reserve’s latest economic stimulus, which could weaken the dollar and hurt other countries’ exports.
The Dow Jones Industrial Average closed up 9 points, or 0.1 percent to finish at 11,444 points—its highest close since just before Lehman Brothers announced its bankruptcy in early September 2008.
The S&P 500 Index also trended higher, rising 5 points to settle at 1,226. The Nasdaq Composite Index added 2 points to close relatively flat.
Investors last week cheered a new Federal Reserve stimulus measure pumping more than $600 billion in liquidity into the U.S. markets. The Dow soared last Thursday, jumping more than 2 percent, a day after the measure was announced on Wednesday.
Last week also saw American voters giving control of the House of Representatives to the Republicans during midterm elections, on a strong showing by “Tea Party” backed candidates who championed fiscal responsibility and lower taxes.
A Friday report that the economy added 151,000 jobs in October—the first increase in job count since May—also bolstered investor confidence although the market seesawed much of the day last Friday.
This week, all eyes will be on the G-20 meetings in South Korea starting Thursday, with the focus on balancing budgets and global currencies.
U.S. leaders will attempt to soothe concerns in Asia and Europe about the Federal Reserve’s latest economic stimulus, which could weaken the dollar and hurt other countries’ exports.
