Coleman Research Group’s Business and Financial Services Expert Network highlights Stocks end higher for second week and Gold surges to all-time high
June 18th, 2010Coleman Research Group’s Business and Financial Services Expert Network facilitates consultations between our clients (institutional investors) and leading business and financial services professionals on a wide variety of topics including consumer credit trends, banking and investment services, insurance, residential and commercial real estate, student lending, and regulatory issues.
Our Business & Financial expert network includes an elite assembly of current and former CFOs and senior executives, accountants, former regulatory officials, academics, and top-level industry consultants.
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Stocks end higher for second week
NEW YORK (CNNMoney.com) — Stocks ended a choppy session higher Friday, with the market managing to carve out a second consecutive week of gains as buyers dipped back in after the May sell-off.
The Dow Jones industrial average (INDU),S&P 500 index (SPX) and the Nasdaq composite (COMP) all added a few points. The Dow and S& gained over 2% and the Nasdaq gained over 3%. Stocks rallied last week as well.
Investors were contending Friday with the quadruple options expiration, a quarterly event in which stock index future and options and individual stock futures and options are all expiring simultaneously. The process can create increased volatility in the underlying issues, particularly in the last hour of trade.
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NEW YORK (CNNMoney.com) — The price of gold surged to an all-time high for the second straight day Friday as economic anxiety continued to fuel a rally for the precious metal.
Gold for August delivery climbed $9.60, or 0.8%, to settle at a record $1,258.30 an ounce, beating the record closing high of $1,248.20 set the previous day. The contract also set a record for intraday prices, at $1,263.70. The previous mark was $1,254.50, set June 8.
“I would attribute this latest surge in the price of gold to expectations of political calamity that could lead to considerable economic distress,” said John Lonski, chief economist for Moody’s. “The jump in the price of gold betrays a lack of confidence in global political and economic leadership. It may not be well-founded, but that’s what it’s telling me.”
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