Dow posts first 2-week gain in nearly year
New York City ? Wall Street’s mid-March rally is on hold, but the market still managed its first two-week gain in close to a year.
After starting Friday mixed, stocks veered lower in the afternoon as financial stocks fell and investors collected profits from the advance that saw the Dow Jones industrial average rise 14 percent over seven trading days. One reason for the market’s pause after such a big surge: It ran out of upbeat economic and corporate news the past two days.
The major indexes did eke out a gain for the week. The Fed jolted the market this week with an announcement of plans to buy hundreds of billions of dollars worth of debt securities in hopes of reviving lending. Stocks initially jumped on Wednesday when the plans were announced but then fell Thursday and Friday as investors became concerned that the huge injection of money into the economy could cause inflation.






