Dhaka, Bangladesh (BBN) – U.S. stocks rose Friday on a better-than-expected second-quarter gross domestic product (GDP) data, according to reports.
On Monday stocks fell in the year’s lightest volume as worries about the pace of economic recovery overshadowed data showing a rise in consumer spending and income.
Wall Street posted its best day in eight weeks on Wednesday after a better-than-expected factory data from the United States and China.
The Dow Jones Industrial Average (DJIA) rose 209.41 points or 2.08 percent over the week. The Nasdaq Composite Index added 35.3 points or 1.65 percent over the same period.
Japan’s Nikkei 225 index initially turned positive on Friday, boosted by short-covering after hopes emerged for possible measures from Japanese authorities but fell more than 2 percent on Tuesday, as worries grew about the pace of U.S. economic recovery.
However, Nikkei rose 1.6 percent on Thursday after the U.S. and Chinese manufacturing data eased investor worries about the global economy. The Nikkei 225 index ended the week over 9,000 mark, adding 129.24 points or 1.45 percent over the previous week.
BBN/SI/AD-04Sept10-12:32 pm (BST)