It was a much-needed great week for the Dow Jones Industrial Average
Wednesday was the best day for the Dow this week, which rose 2.4% after comments from European Central Bank President Mario Draghi that Europe would be willing to cut interest rates if it's deemed necessary. On Friday, investors got some further good news from the Eurozone, when it was revealed that Spain was expected to seek a bailout for its struggling banks, which could help end some uncertainty looming over the markets the past few weeks.
Investors also got good news from China this week, which surprised many with an announcement Thursday that it will lower its interest rates by 25 basis points for the first time since 2008. The rate cut shows that the Chinese government is concerned about slowing growth in the country and willing to take steps to stimulate the world's second biggest economy.
Here's how the three major U.S. indexes fared on the week:
Change This Week
|Dow Jones Industrial Average||+435.63 [3.59%]||12,554.20|
|S&P 500||+47.62 [3.73%]||1,325.66|
Turning to individual stocks, Home Depot
Bank of America
Outside the Dow, Facebook
The big picture
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Brendan Byrnes owns no shares of any company mentioned above. Motley Fool newsletter services have recommended buying shares of McDonald's and The Home Depot. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.