Markets ended the week on a high note with gains across the board. The NASDAQ rose 2.5% finishing at a two month high as investors reacted to more quarterly earning reports including Microsoft’s which beat analysts’ expectations. Microsoft stock closed up almost 11 percent-its best close since February 2000. China’s Central Bank also cut interest rates.
Peter Cardillo, chief market economist at Rockwell Global Capital told CNBC:
“The Chinese Central Bank’s rate cut is a very short-term positive, and while the central bank is stimulating the Chinese economy by cutting rates, the move could also signal China’s economy is weaker than people think.”
More from CNBC on China below.
Here are the final numbers for Friday, 10/23/15 on Wall Street:
Dow Jones Industrial Average: 17,669.42 (+180.26/ +1.03%)
NASDAQ: 5,031.86 (+111.81 / +2.27%)
S&P 500: 2,075.15 (+22.64 / +1.10%)