U.S. market indexes lost more ground Friday and ended lower for the week. For the day the Dow Jones Industrial Average closed at 17,773.64 for a loss of 57.12 points or -0.32%. The Standard & Poor's 500 was also lower, closing at 2,065.30 for a loss of 10.51 points or -0.51%. For the week the Dow Jones Industrial Average finished down -1.26%, and the S&P 500 was down -1.25%.
No change in interest rates from the U.S. Federal Reserve and Bank of Japan led markets lower for the week. New Zealand’s central bank also kept rates unchanged for the week. The Federal Reserve plans to tighten monetary policy, most likely later this year while both the Bank of Japan and New Zealand plan to ease policy by lowering rates. The Bank of Japan had the greatest affect on markets for the week as many believed the central bank would decrease rates. Their decision to keep rates unchanged continued to be a key factor leading markets lower Friday, specifically in Asia. Continue Reading »