US STOCKS-S&P 500 turns positive for 2016 as recession fears fade

viernes 18 de marzo de 2016 16:36 GYT

* Major indexes post 5th week of gains

* Adobe up after raising FY forecasts

* JPMorgan, Bank of America up on buyback plans

* Indexes up: Dow 0.69 pct, S&P 0.44 pct, Nasdaq 0.43 pct (Updates to close)

By Laila Kearney

NEW YORK, March 18 (Reuters) - The S&P 500 closed positive for the year on Friday for the first time in 2016 as the U.S. Federal Reserve's dovish tone and a strengthening economic outlook compelled investors to take on more risk.

In part, the rally was a continued reaction to the Fed's move on Wednesday, in which it scaled back expectations for the number of rate hikes in the coming months. Major indexes gained for five weeks in a row and the Dow closed higher every day this week.

"It was a huge gift to the market," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. "I think the market was bracing for a more hawkish view."

The Dow Jones industrial average closed positive for the year for the first time in 2016 on Thursday.   Continuación...