Wall Street ends week on positive note, Dow Jones gains 43 points

NEW YORK, New York – The bulls had the upper hand again on Friday, pushing the major indices to new highs for the day and week.

“The bears are capitulating,” Rob Ginsberg of Wolfe Research said in a note to clients on Friday.

“Persistently negative since early ’22, the bulls exploded this week to levels last seen in late ’21, right around the market’s peak. Add into the mix the collapse in the VIX, explosion in IWM call volumes, and a drop in put/call ratios, and it’s evident that complacency is rapidly building.”

Greg Bassuk, CEO at AXS Investments, agreed. “It’s the first time in a while where investors seem to be feeling a greater sense of certainty. And we think that’s been a turning point from what had been more of a bearish cautious sentiment,” he told CNBC Friday.

The Dow Jones industrials added 43.17 points or 0.13 percent to close at 33,876.78.

The Nasdaq Composite gained 20.62 points or 0.16 percent to 13,259.14.

The Standard and Poor’s 50 edged up 4.93 points or 0.11 percent to 4,298.86.

In a day of fluctuating market trends, the global foreign exchange markets were clear-cut Friday, with the U.S. dollar losing ground across the board.

The euro to U.S. dollar (EUR/USD) pair experienced a decline of 0.34 percent, closing at 1.0744.

The Japanese yen gained 0.39 percent to close around 139.46.

The U.S. dollar to Canadian dollar (USD/CAD) pair faced a slight setback, declining by 0.08 percent to close at 1.3345.

The British pound continued to flex its muscles, rising 0.12 percent to 1.2574.

The Swiss franc demonstrated a noteworthy increase of 0.55 percent, to 0.9038.

The Australian dollar displayed a positive movement, increasing by 0.35 percent to close at 0.6738.

Lastly, the New Zealand dollar saw a decent rise of 0.52 percent, to 0.6126.

Friday marked the end of the trading week for global stock markets, with various indices experiencing mixed fortunes.

The FTSE 100, representing the London Stock Exchange, ended the day at 7,562.36, down 37.38 points or 0.49 percent.

The ESTX 50 PR.EUR, representing the Eurozone, closed at 4,289.79, down 7.89 points or 0.18 percent. Meanwhile, the Euronext 100 Index inched down by 1.18 points or 0.09 percent, ending at 1,345.81.

In Germany, the DAX PERFORMANCE-INDEX closed at 15,949.84, declining 40.12 points or 0.25 percent.

Across the English Channel, the CAC 40 in France finished at 7,213.14, registering a decrease of 9.01 points or 0.12 percent.

The Belgian BEL 20 recorded a small decline, closing at 3,639.40 with a decrease of 1.99 points or 0.05 percent.

In Russia, the MOEX Russia Index fell by 4.14 points or 0.19 percent, finishing at 2,222.51.

Asian markets witnessed a more positive day of trading. The Nikkei 225 in Japan soared by 623.90 points or 1.97 percent, reaching 32,265.17.

The HANG SENG INDEX in Hong Kong also experienced gains, rising by 90.77 points or 0.47 percent, closing at 19,389.95.

In China, the SSE Composite Index recorded an increase of 17.82 points or 0.55 percent, ending at 3,231.41. The Shenzhen Index, 399001.SZ, followed a similar trend, closing at 10,793.93 with a gain of 71.05 points or 0.66 percent.

Down Under, the Australian All Ordinaries rose by 24.00 points or 0.33 percent, reaching 7,312.30, while the S&P/ASX 200 closed at 7,122.50, up 22.80 points or 0.32 percent.

Singapore’s STI Index experienced a marginal increase of 0.36 points or 0.01 percent, concluding at 3,186.97.

In India, the S&P BSE SENSEX closed at 62,625.63, down 223.01 points or 0.35 percent, while the NIFTY 50 in India finished at 18,563.40, down 71.15 points or 0.38 percent.

Moving to Indonesia, the IDX COMPOSITE, represented by ^JKSE, rose by 27.69 points or 0.42 percent, reaching 6,694.02.

In Malaysia, the FTSE Bursa Malaysia KLCI increased by 1.44 points or 0.10 percent, closing at 1,376.08.

New Zealand’s S&P/NZX 50 INDEX GROSS experienced a slight decrease, falling by 25.40 points or 0.22 percent, ending at 11,690.34.

The KOSPI Composite Index in South Korea performed well, gaining 30.31 points or 1.16 percent, reaching 2,641.16

Meanwhile, in Taiwan, the TSEC weighted index closed at 16,886.40, showing an increase of 152.71 points or 0.91 percent.

In the Middle East, the TA-125 in Israel concluded at 1,801.02, up 10.51 points or 0.59 percent.

In Egypt, the EGX 30 Price Return Index, represented by ^CASE30, rose by 173.80 points or 1.00 percent, closing at 17,521.40.

In Africa, the Top 40 USD Net TRI Index in South Africa, ^JN0U.JO, advanced by 27.38 points or 0.67 percent, concluding at 4,115.65.

(Photo credit | Big News Network news agency).