Confidence that the U.S. economy will weather the market’s rough start this year boosted the S&P 500 to its best two-day rally since October and its first positive week in a month.
U.S. payroll rises failed to meet projections for January, thanks to retailers cutting back after the busy holiday shopping season and declining government hiring.
Following the S&P 500’s worst drop in more than six months, stocks rebounded today thanks to encouraging earnings reports and better-than-expected factory numbers.
On today’s last trading session of January 2014, lower-than-expected earnings from the likes of Amazon and Mattel and emerging market turmoil led the S&P 500 to its third straight red week.
Both estimate-beating earnings and a rise in consumer spending lifted the S&P 500 today, as it erased the losses accrued earlier this week.
Lithuania is seeking to join the European Union’s currency, the euro, beginning January 1, 2015.