Corporate America has been busy this week, and so followed the stock market. After starting the week off pretty tame, investors sprang into action yesterday and today after a bundle of reports came out that often have an influence on the market. Among the reports were some red flags concerning the economy, including poor housing starts and a decline in retail and manufacturing.
The Dow Jones finished at 16,133.23 (+0.66%)
The S&P 500 finished at 1,839.78 (+0.54%)
The Nasdaq finished at 4,267.55 (+0.63%)
The market rallied on Thursday as investors ignored some economic red flags, accepting the idea that the economy may only look to be slowing due to the inclement weather as of late.
Although the Fed has maintained its position to continue tapering Quantitative Easing, the economic stimulus spending that is largely credited to fueling the recent bull market, investors seem to be holding onto hope that if the market took a plunge, the Fed would have no problem sparking QE right back up. Fed officials have already stated that the course of QE is directly related to the Fed’s perception of the economy, and it would be willing to prolong the stimulus spending efforts.
