Arab Today, arab today wall street rallies on upbeat economic data
Last Updated : GMT 23:57:56
Arab Today, arab today
Arab Today, arab today

Wall Street rallies on upbeat economic data

Arab Today, arab today

Arab Today, arab today Wall Street rallies on upbeat economic data

New York - XINHUA

US stocks rose Thursday on positive jobs and housing data, with S&P 500 Index closing at the highest level since late 2007, shrugging off four-day lackluster trading. The Dow Jones Industrial Average moved up 84.86 points, or 0.63 percent, to 13,596.09. The broader S&P 500 Index gained 8.30 points, or 0.56 percent, to 1,480.93. The tech-heavy Nasdaq Composite Index rose 18.46 points, or 0.59 percent, to 3,136.00. U.S. claims for jobless benefits plummeted to 335,000 last week, the lowest since January 2008, from 372,000 in the prior week, the Labor Department said Thursday. The weekly number was much lower than economists had expected. Meanwhile, U.S. housing starts in December surged 12.1 percent to a 954,000-unit annual rate, the fastest pace in over four years, according to data released Thursday by the Commerce Department. The continuing recovery in the housing market has been providing a substantial boost to the U.S. economy. The market saw little reaction to a negative Philadelphia Fed Business Outlook Survey. The January Survey ticked down to an index reading of -5.8. Economists expected the index to rise to 5. 6 from last month's reading of 4.6. Two big lenders posting earnings before opening bell failed to provide supports to the market, with Bank of America delivering mixed results and Citigroup missing expectations. Bank of America fell 4.12 percent after the second largest U.S. bank by assets reported net income of 732 million U.S. dollars, or 3 cents per diluted share, for the fourth quarter of 2012, sharply down from 1.991 billion dollars or 15 cents per diluted share in the year-ago period. Rather, the earnings in the fourth quarter were slightly higher than market estimate of 2 cents per share. Citigroup slipped 2.90 percent, as the third biggest U.S. bank by assets said that its net income added to 1.2 billion dollars in the fourth quarter, or 38 cents a share, from 956 million dollars, or 31 cents a share, a year before. Markets analysts had estimated earnings of 96 cents a share. Soon afterwards, several other notable financials are scheduled to report their earnings results, with American Express and Capital One reporting after Thursday's closing bell, and Morgan Stanley posting report ahead of Friday's opening bell. Homebuilder and construction materials benefited from sustained recovery of housing market. Lennar rallied 3.53 percent while Toll Brothers jumped 3.61 percent. Boeing turned into positive territory in afternoon trading, gaining 1.24 percent at last, after reports indicated a faulty battery had been identified as the cause of electrical issues with Dreamliner 787. EBay extended gains, jumping 2.40 percent, one day after the online marketplace reported it earned 927 million dollars, or 70 cents a share in fourth quarter, up 16.7 percent from a year earlier. Looking to Friday's earnings reports, General Electric will report its quarterly results prior to opening bell. Light, sweet crude for February delivery on the New York Mercantile Exchange on Thursday gained 1.33 percent to settle at 95.49 dollars a barrel on better-than-expected initial claims and housing starts. Brent crude for March delivery rose by 1.29 percent to close at 111.10 dollars a barrel. The U.S. dollar traded mixed against major currencies on Thursday. The dollar fell versus the euro as Spain's borrowing cost dropped but rebounded against Japanese yen. Besides, gold for February delivery on the COMEX edged up 0.45 percent to settle at 1,690.8 dollars per ounce, boosted by optimism spreading across equity market.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wall street rallies on upbeat economic data Arab Today, arab today wall street rallies on upbeat economic data

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wall street rallies on upbeat economic data Arab Today, arab today wall street rallies on upbeat economic data

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday