It was a good Friday for the markets this week, with all three indices posting gains and the S&P 500 closing over 1,500. This is the longest run for the index since 2004, but strong equity markets mask some mixed economic news.
At the close: DJIA: +0.51%, S&P 500: +0.54%, NASDAQ: +0.62%.
Here are three stories that helped move markets today:
1) Lower production output from oil producers in the North Sea and manufacturers has brought Great Britain close to its third recession in four years. During the last three months of 2012, the economy shrank more than expected, with fourth quarter Gross Domestic Product falling 0.3 percent, according to Britain’s Office for National Statistics. This fall was greater than the 0.1 percent decline analysts had predicted, and it appears to be a sign of further bad news to come. The International Monetary Fund cut its 2013 forecast for economic growth to 1.0 percent from the 1.1 percent that was predicted last October… (Read more.)