The Dow Jones industrial
average rose 1.5 percent, the S&P 500 gained 1.6 percent and
the Nasdaq jumped 2.2 percent. Friday’s close marked the end of the
first trading week in the third quarter, although it was cut short by the
market’s closure for the Independence Day holiday.
The stock market has been in an odd
spot for some time. Fear that the Federal Reserve would reduce its monthly
bond-buying stimulus, designed to boost borrowing demand and help the US
economy, put investors in the position of rooting for just-OK data, the kind of
figures that would keep the spigot open while still pointing to decent growth.
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