WS gains 1pc on results but S&P down for 4th week
Sunday, 19 October 2014
NEW YORK, Oct 18 (Reuters): US stocks extended their rebound from this month's bruising selloff on Friday, giving the S&P 500 its best day in over a week, as worries about the US earnings outlook eased, but the S&P 500 still posted its fourth straight week of declines.
The S&P 500's streak of weekly losses was its longest since August 2011, and the index still is off 6.2 per cent from its September 18 record high. The drop follows worries over the health of the global economy, the spread of the Ebola virus, as well as factors including lower oil prices and uncertainty about the Federal Reserve's next steps.
However, the broad index this week steered clear of correction territory, a 10-per cent drop from its high.