US stocks rally and print strong weekly gains

FXstreet.com (Córdoba) - US stocks rallied on Friday propelled by broad risk appetite in a lightly traded short session. Wall Street indexes rose for a fifth consecutive day, with the Dow Jones regaining the 13,000 level, as US consumers headed to stores for Black Friday promotions.

The Dow Jones industrial average rose 172 points, or 1.35%, to 13,009. The Standard & Poor's 500 Index gained 18 points, or 1.30%, to 1,409. The Nasdaq Composite Index climbed 40 points, or 1.3%, to 2,966.

For the week, the Dow Jones rose 3.4% and the S&P 3.6%, printing their best week since the week ending June 8, while the Nasdaq gained 4%.

European markets closed the week higher, as better-than-expected German data fueled risk appetite. The Stoxx Europe 600 rose for a fifth consecutive session, having risen 0.6% on Thursday and Friday.

Meanwhile, the US dollar lost ground against all major counterparts, with EURUSD reaching a 3-week high of 1.2989 and GBPUSD climbing to 1.6050.