Sunday, August 30, 2009

Weekly Market Review

The week was marked by beginnings and endings, from the death of Democratic Party icon Ted Kennedy to the reappointment of Fed chief Ben Bernanke by President Obama, and punctuated by hope, from the latest hints that the housing market is ready to rebound to word that the "Dreamliner" nightmare is nearly finished.

So it was, too, on Wall Street, where the Dow industrials had an epic run snapped, ending lower Friday after gaining in eight straight sessions. It was the longest uninterrupted advance since the spring of 2007.

The blue-chip gauge posted a 0.4% increase for the week. The Nasdaq, alone in rising Friday (to its highest closing mark since Oct. 1), matched that weekly move. The S&P 500 rose 0.3% between last Friday and this week's close.

by MarketWatch