Stocks Ended Higher on Cyprus Relief

U.S. stocks finished higher on Friday, but logged slight losses for the week, boosted by investor optimism over the Cyprus crisis and positive earnings reports. The Dow Jones Industrial Average rose 90.54 points, or 0.63%, to close at 14,512.03, but down less than 0.1% for the week. The S&P 500 Index advanced 11.09 points, or 0.72%, to close at 1,556.89, a loss of 0.2% for the week. The Nasdaq Composite Index  rose 22.40 points, or 0.70%, to close at 3,245.00, a loss of 0.1% for the week.

Even as the Cypriot Parliament was gathering to consider a revised formula for a financial bailout Friday night, there were strong signals that the plan would not pass muster with international lenders.

The board of directors of JPMorgan Chase & Co (JPM.N) said on Friday it “strongly endorses” keeping Jamie Dimon as both their chairman and as chief executive of the company.
PepsiCo Inc. says it isn’t interested in any big acquisitions after a report suggested a mega-snack food deal could bring its Doritos under the same roof as Oreos.

The Federal Aviation Administration announced Friday that it would shutter 149 airport control towers early next month, including at least six in the Washington region.






Leave a Reply