Equities Market Roundup: Wall Street Finishes First Half 2011 Strong as QE2 Ends

Equities Editors Desk  |

U.S. stocks continue to trade higher this week as the Federal Reserve's $600 billion bond buying plan known as QE2 comes to a close. Positive economic data and improving prospects of the European Union financial crisis are helping to lift the market. Investors are starting to shift back their attention to the U.S. economy as Greece's debt situation seems to be under control for the moment. Bulls got some help as the ISM-Chicago index showed that manufacturing in the area improved, and set the stage for Friday's release of national ISM data. In addition, the U.S. Labor Department announced that jobless claims decreased by 1,000 last week, though the number is still over 400,000. The two major catalysts, however, are still the Fed and Congress. As QE2 ends, investors are taking sides on whether or not the Fed was successful or will it have to initiate a third round of bond buying to stimulate the economy. Congress, meanwhile, still needs to address the U.S. debt ceiling or risk a massive default.

DJIA: 12,391.44 (+1.06 percent)
S&P 500: 1,318.89 (+0.88 percent)
NASDAQ: 2,770.82 (+1.11 percent)
Russell 2000: 827.73 (+0.93 percent)

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