US stock market marked best week of 2016

2/21/2016 5:53:14 AM

(MENAFN- The Journal Of Turkish Weekly) >The U.S. stock market had its best week of the year as indexes increased between 2 and nearly 4 percent since last Friday.

Markets ended the week mixed Friday with the Dow falling 0.21 percent to end the day at 16378 points.

The Nasdaq rose 0.38 percent to 4504 points and the S&P 500 fell 0.01 percent to end the day at 1909 points.

But all three indexes marked their biggest gains during the past week. Dow Jones industrial index which closed at 15963 points last Friday gained more than 400 points 2.6 percent this week to close at 16378 points.

After closing at 4337 last Friday the Nasdaq technology index jumped nearly 4 percent to close this week at 4504 points up nearly 200 points.

And the S&P 500 rose 45 points or 2.4 percent from 1864 to 1909 points.

Despite the performance oil companies are still hurting while prices continued their decline. U.S. benchmark West Texas Intermediate hovered near $31 per barrel near the closing bell while Brent crude traded around $33 a barrel around 3 to 5 percent lower than its peak level Tuesday.

In addition the U.S. dollar saw its biggest three-week decline against the Japanese yen since June 2013.

Energy companies were again among the biggest decline in shares.

While Southwestern Energy Co.'s stocks fell 17 percent Murphy Oil Corp. has seen its shares tumble by nearly 8 percent.

But stocks for e-commerce giant Amazon rose nearly 2 percent.

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