Video: Reuters Business Recap for the Week of August 27, 2007

Posted by Sun on September 2, 2007
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A turbulent week ended on a up note Friday as investors reacted positively to the housing initiatives proposed by President Bush and comments made by Fed Chairman Bernanke. The week started with two days of sell-off as the Dow lost 337 points in the first trading session, but only to recoup most of the loss the next day when the index posted some 248 points gain. The upward revision of the second quarter GDP number failed to keep the momentum going on Thursday as the major indexes dropped again. The rally on Friday, though, was able to push the NASDAQ into positive territory.

For the week, the S&P 500 fell 0.4% to 1473.99, the Dow lost 0.2% to 13,357.74, and the NASDAQ gained 0.8% to 2596.36. Spot gold added $4.7 per ounce to end the week at 672.60. Crude oil rose $2.95 per barrel to conclude August at 74.04.

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