Permanent Value

Stocks Higher in Volatile Week Despite Greece Debt Troubles

Michael La Salle
February 12th, 2010

Stocks were slightly higher this week, breaking a four-week down streak, as the S&P 500 and Dow Jones Industrial Average both gained 0.9% on the week. The slight gain in a volatile week in the stock market can be primarily attributed to European Union leaders’ support of Greece and their debt troubles. Retail Sales surprised this week as January posted an increase of 0.5%, beating forecasts of 0.3%. In other economic releases, the University of Michigan Index of Consumer Sentiment levels dropped in February as the index fell 0.7 points to 73.7. The index was expected to rise to 75. In earnings news, Philip Morris International and Walt Disney both reported better-than-expected earnings.