Wall Street ends on a placid note after a week’s roller coaster ride

29 Aug 2015 | Author: | No comments yet »

Wall Street ends flat.

New York – Wall Street ended a tumultuous week with a flat close on Friday as investors shrugged off concerns that a September rate rise was more likely than some investors expected. Shares traded lower earlier in the session after Fed Vice Chairman Stanley Fischer told CNBC the Fed had not yet decided whether to raise interest rates in September. Robert Deutsch, USA TODAY Stocks ended mixed in a narrow range Friday as Wall Street closed out one of its most turbulent weeks in years that saw the major indexes swing dramatically and fall into official correction territory for the first time since 2011. After several volatile sessions that at one point pushed the S&P 500 to its lowest level since October 2014, the three major U.S. indices ended the week with gains. “A lot of investors are rebalancing their portfolios before going into the weekend,” said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin.

Many on Wall Street have been hoping the recent global market turbulence and worries about China’s economy would lead the Fed to hold off raising rates. We’ve got a little over two weeks before we make a decision and we’ve got to see the incoming data.” In economic news released Friday, the government reported that personal income rose 0.4% in July as consumer spending gained 0.3%.

About 7.8 billion shares traded on U.S. exchanges, compared to an average of 11.2 billion in the past five sessions, according to BATS Global Markets. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles.

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