Date : Aug-21-2009 09:44
On Thursday, US stock markets closed higher for a third straight day on some positive economic data like encouraging manufacturing report. The Philadelphia Federal Reserve branch said its gauge of manufacturing activity in the region reported surprise increase in August. Further the markets gained momentum following midmorning news that leading economic indicators increased 0.7% in July marking it’s the fourth straight increase. Though, that was generally in-line with expectations. In addition, firm overseas market also supported gains in the US stocks. However, market ignored disappointing jobless claims report.
The Dow Jones Industrial Average (DJIA) closed higher by 70.89 points at 9,350.05, NASDAQ index inclined by 19.98 points to 1,989.22 and the S&P 500 (SPX) closed higher by 10.91 points at 1,007.37.
In the economic news, The Philadelphia Federal Reserve Index reported surprise increase. The index for August increased to 4.2 in from minus 7.5 in July. Additionally, initial jobless claims for the week ended August 15 came in higher than expectations at 576,000 and continuing claims made a slight advance to 6.24 million due to the expiring unemployment benefits.
US light crude oil futures for September delivery ended at $72.54 per barrel higher by 0.2% on the New York Mercantile Exchange. The September contract expired at settlement, with the bulk of trading revolving around October futures, which settled 92 cents, or 1.3%, lower at $72.91 a barrel.
Gold futures for the month of December delivery finished the session at $941.70 per ounce with marginal loss of 0.3% on the New York Mercantile Exchange.
On Thursday, US stock markets closed higher for a third straight day on some positive economic data like encouraging manufacturing report. The Philadelphia Federal Reserve branch said its gauge of manufacturing activity in the region reported surprise increase in August. Further the markets gained momentum following midmorning news that leading economic indicators increased 0.7% in July marking it’s the fourth straight increase. Though, that was generally in-line with expectations. In addition, firm overseas market also supported gains in the US stocks. However, market ignored disappointing jobless claims report.
The Dow Jones Industrial Average (DJIA) closed higher by 70.89 points at 9,350.05, NASDAQ index inclined by 19.98 points to 1,989.22 and the S&P 500 (SPX) closed higher by 10.91 points at 1,007.37.
In the economic news, The Philadelphia Federal Reserve Index reported surprise increase. The index for August increased to 4.2 in from minus 7.5 in July. Additionally, initial jobless claims for the week ended August 15 came in higher than expectations at 576,000 and continuing claims made a slight advance to 6.24 million due to the expiring unemployment benefits.
US light crude oil futures for September delivery ended at $72.54 per barrel higher by 0.2% on the New York Mercantile Exchange. The September contract expired at settlement, with the bulk of trading revolving around October futures, which settled 92 cents, or 1.3%, lower at $72.91 a barrel.
Gold futures for the month of December delivery finished the session at $941.70 per ounce with marginal loss of 0.3% on the New York Mercantile Exchange.
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