Sun, Jun 30, 2013 - Page 15 News List

US stocks post strongest rise in 15 years

ROUSING FIRST HALF:The S&P 500 and the Dow Jones Industrial Average scored fresh records, buoyed by the Fed’s easy money policy and strong corporate earnings

AFP, NEW YORK

Hugh Johnson of Hugh Johnson Advisors said the slight rise in the final week of this month could be described as “the restoration of sanity” after several rocky weeks.

Initial public offering (IPO) industry expert Renaissance Capital said there was still enough strength in the markets to support more new issues, after 61 companies went public in the second quarter, the most active quarter in nearly six years.

“Though the Fed’s hints at a retreat from stimulus efforts brought a dose of renewed volatility to the markets last week, investors showed a willingness to continue putting money to work in IPOs, as long as valuations were adjusted,” the firm said.

Most expect a slow market for the coming week, shortened by the Fourth of July holiday.

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