US markets lower in week despite Bernanke boost
NEW YORK (AFP) - United States (US) stock markets got a good bump on Friday from Federal Reserve Chairman Ben Bernanke's much-awaited endorsement of more stimulus action, but still ended lower on a week of lacklustre end-of-summer trade.
While Mr Bernanke's suggestion that the Fed could embark on a QE3 bond-buying programme helped the Friday rebound, it was still his justification - that the economy is really not doing well - that kept a general cloud over the markets.
Trade was flat for three straight days, then sank on Thursday while nearly making up the difference on Friday, rising even before the Fed chief spoke.
The Dow ended on Friday down 0.51 per cent for the week, to 13,090.84.