This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

[video] Market Hustle: Stocks Gain as Dow Holds 16,000 on Yellen Frenzy

NEW YORK ( TheStreet) -- Major U.S. markets closed higher Friday as the  Dow Jones Industrial Average closed above 16,000 for a second day as drugmakers received a boost from government regulators.

The Dow was up 0.34% to close at 16,064.77 while the S&P 500 added 0.5% to finish the week at 1,804.76. The  Nasdaq gained 0.6% to 3,991.65. for the week, the S&P and Dow gained 0.37% and 0.65%, respectively while the Nasdaq tacked on 0.14% for the five-day trading period.

Mounting support for Janet Yellen's nomination to head the  Federal Reserve has bolstered prospects that the central bank's massive bond-buying program will continue until the economic recovery is on stronger legs.

In company news,  Biogen Idec  (BIIB - Get Report)  cleared a critical road block Friday for European launch of Tecfidera after regulators granted market exclusivity to the multiple sclerosis pill in the region. The biotech firm was the top performer in the S&P as shares soared 13.2% to close at $285.73.

Ross Stores (ROST - Get Report) was the worst performer in the S&P after the company lowered its fourth-quarter forecast for same-store sales to 1% to 2%. Shares of the off-price retailer tumbled 5.7% to $75.67.

In other news, the euro hit a four-year high against the Japanese yen after strong German business sentiment suggested ongoing recovery in Europe's largest economy.

Kansas City Fed President Esther George told a Bank of France conference in Paris that U.S. bank stress tests were a "work in progress" and could be improved by being made more transparent. 

-- By Jane Searle and Joe Deaux in New York

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BIIB $405.51 0.39%
ROST $49.39 1.60%
AAPL $126.54 0.89%
FB $86.91 1.34%
GOOG $521.88 0.26%

Markets

DOW 17,757.91 +138.40 0.79%
S&P 500 2,077.42 +14.31 0.69%
NASDAQ 5,013.1230 +26.2560 0.53%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs