US stocks edged higher in early trade helped by buoyant data on new jobless claims and housing starts.
|||US stocks edged higher in early trade Thursday helped by buoyant data on new jobless claims and housing starts, though worries over the Greece situation continued to cloud trade.
At 1530 GMT the Dow Jones Industrial Average was up 67.54 points (0.53 percent) to 12,848.49.
The broad-based S&P 500 added 5.04 points (0.38 percent) to 1,348.27, while the Nasdaq Composite rose 11.77 (0.40 percent) to 2,927.60.
Positive signs for the US economy poured in, with the weekly report of new claims for unemployment benefits falling to their lowest level since March 2008 and data on January housing construction confirming a pickup in that depressed sector.
“A strong gain in starts, combined with an acceleration in the number of homes currently under construction, suggests the residential construction sector is finally on a steady, upward trend,” said Jeffrey Rosen at Briefing Research.
But a Moody's warning of possible downgrades on scores of European banks and several top US banks and continued worries that Greece will not be able to fulfill requirements for a new bailout clouded the market.
General Motors shares rose 4.1 percent despite fourth quarter earnings missing expectations, with analysts saying they foresee a solid year in 2012.
On the Nasdaq, shares of giant online retailer Amazon fell 4.1 percent.
Bond prices slipped.
The yield on the 10-year Treasury rose to 1.97 percent from 1.92 percent on Wednesday, while the 30-year rose to 3.10 percent from 3.07 percent.
Bond prices and yields move in opposite directions. - Sapa-AFP
Source: http://www.iol.co.za/us-stocks-edge-higher-1.1236231
Ann Widdecombe Alastair Cook Food & drink al-Qaida Celebrity Waste
Walang komento:
Mag-post ng isang Komento