US stocks trade higher amid economic data
Friday - September 21, 2018 12:26 am ,
Category : BUSINESS
US stocks trade higher amid economic data
New York Sep 21 (IANS) US stocks traded on an upbeat note on Thursday as investors were digesting a slew of economic data.
The Dow Jones Industrial Average soared 248.07 points or 0.94 per cent to 26 653.83. The S&P 500 was up 21.39 points or 0.74 per cent to 2 929.34 Xinhua news agency reported.
The Nasdaq Composite Index advanced 67.01 points or 0.84 per cent to 8 017.05.
The Dow hit record high since January in morning session with Caterpillar and Apple stocks among the outperformers.
Shares of the companies gained 1.58 per cent and 1.15 per cent respectively around midday. Ten of the 11 primary S&P 500 sectors traded higher with technology and materials leading the advancers.
Tech sector rose more than 1 per cent bolstering the tech-heavy Nasdaq.
On economic data in the week ending September 15 US initial jobless claims stood at 201 000 a decrease of 3 000 from the previous week s unrevised level of 204 000 the Department of Labor said on Thursday.
This is the lowest level for initial claims since November 15 1969 when it was 197 000.
The 4-week moving average was 205 750 a decrease of 2 250 from the previous week s unrevised average it said.
Meanwhile the Conference Board Leading Economic Index for the US increased 0.4 per cent in August to 111.2 following a 0.7 per cent increase in July.
--IANS pgh/
The Dow Jones Industrial Average soared 248.07 points or 0.94 per cent to 26 653.83. The S&P 500 was up 21.39 points or 0.74 per cent to 2 929.34 Xinhua news agency reported.
The Nasdaq Composite Index advanced 67.01 points or 0.84 per cent to 8 017.05.
The Dow hit record high since January in morning session with Caterpillar and Apple stocks among the outperformers.
Shares of the companies gained 1.58 per cent and 1.15 per cent respectively around midday. Ten of the 11 primary S&P 500 sectors traded higher with technology and materials leading the advancers.
Tech sector rose more than 1 per cent bolstering the tech-heavy Nasdaq.
On economic data in the week ending September 15 US initial jobless claims stood at 201 000 a decrease of 3 000 from the previous week s unrevised level of 204 000 the Department of Labor said on Thursday.
This is the lowest level for initial claims since November 15 1969 when it was 197 000.
The 4-week moving average was 205 750 a decrease of 2 250 from the previous week s unrevised average it said.
Meanwhile the Conference Board Leading Economic Index for the US increased 0.4 per cent in August to 111.2 following a 0.7 per cent increase in July.
--IANS pgh/
