The Dow Jones Industrial Average climbed 186.56 points, or 1.6%, to 12,184.26, for its second consecutive weeks up, with a 1.4% gain on the week. Nasdaq Composite gained 50.47 points, or 1.94%, to end at 2646.85. With a gain of 20.84 points, S&P 500 index climbed 1.69%, to finish at 1255.19. Financial and energy sectors led the gain.
EU Member States agreed to conclude intergovernmental treaties, strengthen the fiscal discipline, with the financial contract efforts to continue to build a new Alliance of economic. The U. S. Dollar Index, which measures the greenback’s value against a basket of six overseas currencies , fell 0.28%.
The US trade deficit narrowed for the fourth consecutive month in December, and the U.S consumer confidence index performed better than expectation
Latest data relesead by the Commerce Department on Friday, showed that the trade deficit of U.S was $43.5 billion, declined 1.6 per cent from September. By the end of October, the U.S trade deficit has narrowed for the fourth consecutive month. US consumer confidence index rose to 67.7 per cent in December, from 64.1 points in November, better than expected. Top the Market economists had estimated , 66 points on average.
The portrayal of the new financial treaty agreed in the Summit helped the euro to rise, but the strength is insufficiently and it seems to comm out too late. The risk of the contagion of regional debt crisis is still very high, weighing on the fundmental prospect of the euro zone. We should not be too optimistic about the outlook for the tougher fiscal treaty to avoid too much of the recent crisis, the euro zone will coming in the face of much more resistance and sluggish economy data, including both a slowdown in economy growth and rise in inflation.