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North American stock markets end sharply higher friday

North American stock markets end sharply higher friday

Wall Street sharply mounted Friday the Dow Jones took 1.28% and the Nasdaq 1.85%.

According to final results, the index Featured Dow Jones Industrial Average gained 218.18 points 17 213.31 points and the Nasdaq, dominated by technology, 86.31 points 4 748.47 points.

Closely followed by investors, the broader S & P 500 was up 32.62 points, or 1.64%, to 2 022.19 points.

Lecours the barrel of "light sweet crude" (WTI) for April delivery gained 66 cents to $ 38.50 on the New York Mercantile Exchange (Nymex).

On the TSX, the S & P TSX gained 142.9 point or 1.07% to 13,522 points.

The Canadian dollar traded against 75.58 US cents at the close, compared with 74.93 cents yesterday.

The effect ECB

The North American exchanges recorded, as elsewhere in the world, but a logical late reaction to the ambitious measures announced yesterday by the European Central Bank (ECB).

"It was a strange week," acknowledged Alan Skrainka of Cornerstone Wealth Management, mainly referring to the last two days.

major event of the week, the ECB announced Thursday massive action to support the economy, the decline in all its key rates and accelerating its asset purchases, but, on the same day, the major exchanges are not only welcomed, preferring to retain about Mario Draghi, president of the institution, the very tone wait on the next steps.

"I do not know why, but investors had seemed to retain only the idea that the rate cuts, it's over ... While the ECB has really put the package with very strong measures," was Mr. Skrainka surprised. "But now it looks like they have realized how it was positive."

Wall Street is also only followed even more marked movements in European stock markets directly involved, where the Eurostoxx 50 took some 3.5% after a decline of about 1.5%.

It is now to the US central bank (Fed) that investors will turn, for the institution, engaged in a reverse way from that of the ECB, will say Wednesday whether or not it intends to remain on the path of recovery its rate, which is to withdraw gradually its support to the economy.

For now, on Wall Street, "the main engines (were) a review of the actions of the ECB and rising oil market," said Art Hogan, Wunderlich Securities.

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Master of Economics, University of Harvard, worked as an analyst in a few large companies and specializes in many countries. Currently owned by a large company that conducts assessment of investment attractiveness in the various countries of the world.