Financial markets this week The US share market hit another record high this week following a positive assessment of the US economy by the Federal Reserve and the confirmation that tapering has continued at the rate expected. The US S&P 500 Index finished 1.5% higher over the week to Thursday. Locally, the share market was boosted by a surge in resource stocks on Thursday, which responded to a bounce back in some commodity prices. The S&P ASX 200 Index finished the week 0.7% higher, with a gain of 2.0% from BHP making a major contribution to this rise. Despite the increase in commodity prices, the $A lost some ground against the $US, falling from US 94.3 cents to 94.0 cents over the week.
Posted on: Fri, 20 Jun 2014 06:59:36 +0000