Stock exchange news. The entire week passed in anticipation of Bernanke’s speech and in the hope of FRS drastic measures. As a result, by the end of the week S&P 500 gain amounted to more than 4%, which is the best result for the last 4-5 weeks.
The shares’ price has risen in four out of five sessions, although volatility still remains at high. The major positive factors include the possible end of war in Libya and the vote of confidence to Warren Buffett.
Bullish atmosphere is more than evident, as all sectors are within the green zone, having reached the general growth by more than 2 percent. The highest gain was observed in technology, consumer goods, and services sectors.
The main event of the week became the speech of Reserve System Chairman Ben Bernanke. He admitted that American economic recovery was happening at a slower pace than it had been expected, but at the same time he claimed that the USA possessed enough resources to deal with possible difficulties. It is most likely that no changes of financial policy are expected at this point.
The shares of “Bank of America” still remain in the spotlight. There were a lot of rumours about the financial condition of this giant, but the situation became clear as soon as Buffett’s company “Berkshire Hathaway” invested 5 bln. dollars into the bank. This became the reason of considerable gain, which allowed to win back the losses from the drawdown at the beginning of the week.
“Apple” company has gained significant 7.7%, even despite the fact that its irreplaceable leader Steve Jobs resigned due to health issues. Jobs’s recession had been expected long ago, and now the candidature of possible successor is widely discussed.
To conclude, as traders of Masterforex-V Academy Department of Portfolio Investments admit, it can be stated that during the next week the markets will be regaining Bernanke’s claims on Friday. The y will also expect improvement of the Greek issue.
