Stocks End Week at Multi-Year Highs; Vix Skids
September 7, 2012 Leave a Comment
Stocks squeezed out small gains Friday after zigzagging in a tight range all day as investors were disappointed by the government jobs report, but expectations that the Federal Reserve may launch another round of quantitative easing helped limit losses.
Still, all three major averages posted sharp gains for the week.
“The perception of ‘helping’ the White House with further accommodation would be too powerful to overcome for the independent central bank, in my opinion,” wrote Todd Schoenberger, managing principal at The BlackBay Group. “Well, the problem is, if the Fed does nothing next week and waits, the certainty of a double-dip recession becomes 100 percent.”