U.S. stock markets close with fifth straight week of gains

U.S. stock markets close with fifth straight week of gains
(Image credit: Spencer Platt/Getty Images)

Helped by boosts from the People's Bank of China and the European Central Bank, U.S. stock markets closed on Friday with a fifth week of positive performance — the best stretch since 2011, Fortune notes.

The People's Bank of China announced an interest rate cut on Friday that nudged international markets higher, while the European Central Bank's president, Mario Draghi, made comments about the bank's plans to double down on boosting the eurozone economy. The Dow Jones Industrial average closed at a record 17,810, while the S&P 500 rose nearly 11 points, to 2,064. The U.S. stock markets' reaction to international news underscores the need for consistent global gains, though, said one portfolio manager.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
Explore More
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Sarah Eberspacher

Sarah Eberspacher is an associate editor at TheWeek.com. She has previously worked as a sports reporter at The Livingston County Daily Press & Argus and The Arizona Republic. She graduated from Northwestern University's Medill School of Journalism.