On Friday, the U.S. stocks closed on a more positive note, recording higher figures for the first week in the month. This is courtesy of the recovery in oil that has recorded lows as well as hopes of stimulus in overseas. The S&P 500 is said to have closed 2% higher, which is well above the 1,900 level. The energy on the other hand gained 4.3%, leading at all sectors. Oil reached 32 dollars, which means that it settled at the highest value since January 8.
The president of EverBank World Markets Chris Gaffney said that he thinks the results were due to oil. He pointed out that they were able to continue rallying in oil to have it stop falling but come back up. This led to equity investors trying the market again.
The Dow Jones also closed up higher, reaching 210 points more above 16,000. The most gains were contributed by Goldman Sachs and Apple. Apple jumped 5.3 percent after investors were recommended to buy shares by Pipper Jaffray, who asked them to do it before the coming earning report. He said that the stock could go up 50% because of the iPhone 7 launch presumed to happen in September.
James Dondero is the president and the co-founder of Highland Capital Investment
. He has over 3 decades of experience
and extensive skills in equity and credit markets. He focuses on
high-yield, distressing investments. Highland Capital, which Jim leads
, has been on the forefront in the development of CLO (Collateralized Loan Obligation) market as well as developing credit-oriented solutions for both retail and institutional investors globally. Some of the products the firm offers include ETFs, REITs, mutual funds, private equity funds and hedge funds.
Jim Dondero is also the chair or Nexbank
, CCS Medical and Cornerstone Healthcare, and also serves as one of the MGM Studios’ and American Banknote’s board members. He is active in philanthropic activities
, supporting initiatives in public policy, veteran’s affairs and education. In the past he has helped in building GIC subsidiary between 1993 and 1989 and served as the American Express’ manager. Follow Jim on Twitter
to stay up to date on the market.