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Markets make modest gains amid Greek Crisis

On Friday the DOW finished up 42 points, and the S&P up 3.86 points, breaking a 6 week losing streak amid the fear of the Greek financial crisis. The tech heavy NASDAQ however finished %1.03 down for the week.

Many analysts believe the worst however is not over. Director of Trading and Derivatives at Charles Schwab, Randy Frederick commented. ““The summer months are going to be tough—I expect choppy, but tight ranges.”

As the Greek crisis gained momentum, so did the risk aversion for investors with gold making its biggest one day gain in 3 weeks, up to finish at $1,539.10 an ounce. With continued pessimism on the US economy, and consumer sentiment worsened more than expected for the June quarter.

On Friday the FTSE and DAX also finished in the green, as did the S&P ASX Australian index.

Oil finished down at $93.01 per barrel, or $1.94 per barrel.

 

About Jono Farrington

Jono Farrington
Jono Farrington holds a Bachelor of Agricultural Science (Oenology) from the University of Adelaide (formely the Roseworthy Agricultural College). He also holds a Post Graduate Degree in Business Management from Monash University. He worked in the wine industry for nearly a decade, completing vintages in Australia and Bordeaux, before setting up an equestrian training centre.

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