Pakistan monsoon death toll rises to 299, including 140 children    Saudi Arabia issues new regulations for food laboratory operations    Saudi Tourism Ministry launches e-service to boost accommodation capacity in Makkah and Madinah for Hajj 1447    Four health colleges rank lowest in 2025 national licensure exam results    SABIC posts $1.41 billion loss in H1 2025 on UK plant closure, restructuring costs    OPEC+ to boost oil output by 547,000 bpd in September    Foreign direct investment nets SR1.9 billion in Saudi stock market for July    Saudi, Iraqi justice ministers sign cooperation agreement in Riyadh    Palestine Red Crescent says Israeli strike on Gaza HQ kills worker, injures three    Saudi defender Saud Abdulhamid joins RC Lens on loan from AS Roma    Riyadh Comedy Festival tickets now on sale for world's biggest stand-up event    Flash floods, landslides kill 8 in northern Vietnam, 3 missing    Canada rejects claims of ongoing arms exports to Israel    Saudi Gazette publishes full text of new foreign property ownership law The law grants non-Saudis broader real estate rights under defined conditions while imposing restrictions in Makkah and Madinah    Sotheby's returns Buddha jewels to India after uproar    Riyadh Film Music Festival returns with live orchestral performances of iconic movie scores    Nissan Formula E Team celebrates a landmark season 11 with proud Saudi sponsor Electromin    Fahad bin Nafel steps down as Al Hilal president after historic six-year run    João Félix unveiled by Al Nassr as €50m move marks bold new chapter in Riyadh    Saudi Arabia approves first Alzheimer's treatment with lecanemab for early-stage patients    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







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Wall Street Closing
Published in Saudi Press Agency on 14 - 09 - 2012

U.S. stocks rallied Friday, ending the week at their best levels in several years, after the Federal Reserve (Fed) announced new stimulus measures Thursday.
In U.S. economic news, the Census Bureau reported that retail sales rose 0.9 percent in August, which was higher than expected. The Bureau of Labor Statistics said August inflation was in line with analysts' expectations, with the Consumer Price Index increasing by 0.6 percent. The Fed's data on industrial production for August showed a steeper-than-expected drop of 1.2 percent, while the preliminary edition of the University of Michigan's Consumer Sentiment Index for September came in higher than expected. Data on July business inventories from the Census Bureau also exceeded forecasts.
In company news, shares of homebuilders, including PulteGroup, Toll Brothers, and Hovnanian Enterprises continued to soar on the Fed's mortgage buying program's announcement. Big banks Citigroup, JPMorgan Chase, Bank of America, and Goldman Sachs were also among the top gainers. Apple shares hit another all-time high two days after the company unveiled the latest edition of the popular iPhone.
The dollar fell against the euro and the pound, but rose versus the yen. Light sweet crude oil for October delivery gained 69 cents to $99 a barrel on the New York Mercantile Exchange. Gold futures increased 60 cents to $1,772.70 an ounce.
The Dow, the S&P 500, and the Nasdaq all posted gains between 1.5 percent and 2.3 percent for the week. The S&P 500 is at its highest point since the end of 2007, while the Nasdaq has not been at its level since late 2000. The Dow Jones industrial average rose 53.51, or 0.40 percent, to 13,593.37. The broader Standard & Poor's 500 index gained 5.78, or 0.40 percent, to 1,465.77. The technology-heavy Nasdaq composite index increased 28.12, or 0.89 percent, to 3,183.95.


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