Reuters - Video

EDITION: U.S. | U.K. | IN

Personal Finance Videos

Friday comeback for stocks

Friday, March 28, 2014 - 02:50

March 28 - Summary: Stocks staged a turnaround but biotech still weigh on markets; Nasdaq down almost 3 percent for week; CBS Outdoor, 2U debut; Income and Spending rise; Gold hits 6 week low. Bobbi Rebell reports.

▲ Hide Transcript

View Transcript

It was TGIF - thank goodness it's Friday with U.S. stocks staging a comeback after a rocky week. Comments from a Chinese official indicating that the country's government was ready to take steps to support its slowing economy, helping turn things around. At the end of the day, all the major indexes closed with gains. For the week: The Dow barely managed to erase its losses. The S&P and the Nasdaq both lost ground. The Nasdaq posting its largest weekly percentage decline since October of 2012. Much of the damage of the week - due to a stalling out of some big momentum plays, like biotechs and tech names like Netflix, which continued its downward trend on Friday. Reuters Markets Editor David Gaffen. SOUNDBITE: DAVID GAFFEN, MARKET EDITOR, THOMSON REUTERS (ENGLISH) SAYING: "People are looking for other places to go, and, right now, you don't see sort of a full scale kind of retreat, you know, as you did as the tech bubble burst and other bubbles burst in the past, and when momentum stocks and their charts start to really break and break down, it's a very ugly thing, indeed, and so but before that they can kind of crack a bit and crack a few times and still they won't break down entirely and a person who tries to jump in and go short will find their head handed to them and so, you know, it doesn't appear that it's overall all declining but just that, you know, there is, you know, cracks in the armor." Two new stocks hit the market: Bill board advertising giant CBS Outdoor Americas jumped in its first day of trading, closing above its offering price of $28 a share. CBS Outdoor was carved out of parent CBS Corp as part of an effort to grab more advertising for its billboards. The other debut - 2U also had a good day, with its shares also closing higher. 2U, which builds online learning platforms, raised $120 million. Earnings from Blackberry - still in the red. Though the company, which has lost most of its market share to Apple and Android phones, did report a smaller loss than forecasts. Revenue plummeted, down 64 percent. On the economic front: personal income and spending both rose 0.3 percent in February, a good sign that the weak data earlier this year can in fact be blamed on the weather. But consumers still less hopeful about the prospects for the U.S. economy. The Thomson Reuters/University of Michigan final read on consumer sentiment showed it fell, though it was better than the preliminary report. Gold fell to six-week lows, falling under $1,300 an ounce, the second weekly decline. The improving economic outlook boosted investors risk appetite. And in Europe, stocks extended their rally on Friday, thanks to rising expectations that the European Central Bank may ease policy next week to support the region's fragile economic recovery.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Friday comeback for stocks

Friday, March 28, 2014 - 02:50

Top News »

Investing 201 »

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)

The better bond funds The better bond funds

Wed, Aug 07, 2013 - (2:40)

Best bargain in 40 years? European stocks Best bargain in 40 years? European stocks

Thu, Aug 01, 2013 - (2:24)

Invest like an activist Invest like an activist

Fri, Jul 26, 2013 - (2:49)

Money Clip »

3 things to do before disaster strikes 3 things to do before disaster strikes

Wed, Sep 18, 2013 - (1:39)

Your must-do money list Your must-do money list

Wed, Sep 11, 2013 - (1:24)

The worst "best" financial advice The worst "best" financial advice

Wed, Sep 04, 2013 - (1:42)

Forget gold: The case for REITs Forget gold: The case for REITs

Fri, Apr 26, 2013 - (1:19)

3 rules for buying a house now 3 rules for buying a house now

Thu, Apr 18, 2013 - (1:39)

“Stalking” your dream home - Money Clip “Stalking” your dream home - Money Clip

Wed, Mar 27, 2013 - (2:50)

3 hidden tax deductions - Money Clip 3 hidden tax deductions - Money Clip

Thu, Mar 21, 2013 - (1:33)

Moving Pictures »

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Thu, Jul 03, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)