January 28, 2012 in Business

S&P gains for fourth week

Marketwatch
 

NEW YORK – U.S. stocks on Friday finished mostly lower, but a late surge in financial shares helped the S&P 500 preserve a fourth week of gains after the White House said it would expand a foreclosure-prevention program and hope grew for a Greek debt-deal.

“The big news the last couple of weeks is the program they launched over in Europe, the lending facility to the banking system, seems to be working,” said Owen Fitzpatrick, head of the U.S. equity group at Deutsche Bank.

Down much of the session, the financial sector reversed course in the final hour of trade as the White House said it would loosen rules on a loan-modification program.

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One comment on this story so far. Add yours!

  • DickAdams on January 28 at 9:50 a.m.

    I can`t imagine how much money old folksy Warren Buffett, who made a deal when he bought 10 billion dollars worth of GE stock, and demanded a 10% dividend which he receives, but he bought low and could sell high as GE increased several dollars a share from the cost of the stock when he bought it . But why would old folksy sell when he is receiving over twice as much money in his dividend checks as the other stock holders? In today`s financial environment, where can a person find a 10% return on their money? Buffett wants his regular income tax percentage to increase. Yeah, but it does not include his GE investment and other holdings, only his personal income. Just like his personal secretary who was made a multi millionaire working for him.

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