S&P 500 Climbs After Federal Reserve Meeting
The S&P 500 spent the last week rising. Having opened at 1981.20 on Monday morning it reached a high of 2017.90 on Friday before closing at 2,010.40.
It was a good week for the markets; they were boosted by Chinese e-commerce company Alibaba’s initial public offering, the Federal Reserve meeting and Scotland’s decision to stay in the UK. Across the week the biggest gains on the S&P 500 came for Vertex, DuPont, Darden Restaurants and Molson Coors Brewing. The companies that lost the most were Owen-Illinois, Peabody Energy, Delphi Automotive and Noble Corporation.
The next week is likely to be steadier for the S&P 500 as there are no political or economic events of the same magnitude as last week. Much will depend on the technical companies; Oracle’s co-found Larry Ellison stepped down on Friday which could result in the company dragging the index lower.