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S and P ends strong for second straight week
Friday, April 27, 2012
The Standard and Poor's 500 Index gained again on April 27, ending the week strong and finishing the best week in a month, according to Bloomberg.
Part of the increase was attributed to retailers posting strong numbers and improving corporate earnings and consumer confidence offsetting economic growth that disappointed many experts and industry analysts.
“It all tells me that the economy continues to grow at a slow, steady pace,” Jeffrey Layman, chief investment officer of BKD Wealth Advisors in Springfield, Missouri, told the news source. “Consumers are feeling more confident and it’s a good thing. We’re pleased with the overall improvement in earnings.”
The index rose 0.3 percent to hit 1,403.44 as of 4 p.m. Eastern Standard time and it also climbed 1.8 percent since April 20 for back-to-back increases on a weekly basis.
Although the economic recovery has been spotty in places, the housing market has posted gains that have some industry analysts hopeful. The National Association of Realtors reported pending home sales increased in March on a year-over-year basis.
Consumers interested in using the stock market to their benefit can consult discount brokers to get involved.
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