MARKET ROUNDUP
U.S. STOCKS RALLY FOR FIFTH STRAIGHT WEEK ON JOBS REPORT
The
S&P 500 rose 0.7 percent to 1,513.17 for the week. The benchmark
equity gauge is up 6.1 percent for the year. The Dow Jones Industrial
Average rallied 113.81 points, or 0.8 percent, to 14,009.79. The gauge
closed above 14,000 for the first time since 2007 and is 1.1 percent
below the all-time record it reached in October 2007.
OIL COMPLETES LONGEST RUN OF WEEKLY GAINS SINCE 2004
Futures
climbed 0.3 percent after the Labor Department said payrolls rose
157,000 in January and the Institute for Supply Management’s U.S.
factory index reached a nine-month high. The Dow Jones Industrial
Average gained 1 percent. Brent oil’s premium to crude traded in New
York widened because of limits on a pipeline linking the Midwest to the
Gulf Coast. West Texas Intermediate oil for March delivery rose 28 cents
to settle at $97.77 a barrel on the New York Mercantile Exchange.
Trading at 3:21 p.m. was 65 percent above the 100-day average for the
time of day. The weekly gain of 2 percent is the eighth in a row,
matching a streak that ended in August 2004. (Source: Bloomberg)
Jupiter Securities Research - 4 February 2013
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