The US Markets closed marginally higher on Thursday with all three major benchmarks closing at multi-month highs backed by positive economic reports. The Utilities and the Energy stocks led the session advance which climbed by 2% and 1.8% respectively. Energy stocks got a boost after crude jumped above the $73 a barrel.
The Dow Jones Industrial Average (DJIA) advanced by 31.90 points at 8,770.92, the NASDAQ Composite (RIXF) index inclined by 9.29 points to close at 1,862.37 and the S&P 500 (SPX) grew by 5.74 points to close at 944.89.
On the economic front, the jobless claims fell last week and retail sales ticked higher in May.
The Advance Retail Sales Report, both total retail sales and retail sales less autos increased 0.5%, which marked the first increase in three months. Total sales were in-line with expectations, while sales excluding autos were actually stronger than expected.
According to a Labor Department report, the number of Americans filing new claims for unemployment fell 24,000 to 601,000 last week as against the economists expectations of a dip to 615,000. However, continuing claims rose to 6,816,000 from a revised 6,757,000 in the previous week.
US light crude oil futures for July delivery closed at $72.60 per barrel up by 1.8% on the New York Mercantile Exchange. The crude oil prices extended their gains after the International Energy Agency forecasted an improve in oil demand in 2009 globally. Oil prices settled at $72.60 per barrel, a fresh closing high for the year.
Gold futures for the month of August delivery finished the session at $962 per ounce with a gain of 0.7% on the New York Mercantile Exchange.
The Dow Jones Industrial Average (DJIA) advanced by 31.90 points at 8,770.92, the NASDAQ Composite (RIXF) index inclined by 9.29 points to close at 1,862.37 and the S&P 500 (SPX) grew by 5.74 points to close at 944.89.
On the economic front, the jobless claims fell last week and retail sales ticked higher in May.
The Advance Retail Sales Report, both total retail sales and retail sales less autos increased 0.5%, which marked the first increase in three months. Total sales were in-line with expectations, while sales excluding autos were actually stronger than expected.
According to a Labor Department report, the number of Americans filing new claims for unemployment fell 24,000 to 601,000 last week as against the economists expectations of a dip to 615,000. However, continuing claims rose to 6,816,000 from a revised 6,757,000 in the previous week.
US light crude oil futures for July delivery closed at $72.60 per barrel up by 1.8% on the New York Mercantile Exchange. The crude oil prices extended their gains after the International Energy Agency forecasted an improve in oil demand in 2009 globally. Oil prices settled at $72.60 per barrel, a fresh closing high for the year.
Gold futures for the month of August delivery finished the session at $962 per ounce with a gain of 0.7% on the New York Mercantile Exchange.
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