Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Stocks Rally after Economic Data

Thursday, June 27, 2013 11:40 AM
U.S. stocks rallied across-the-board by mid-day trade on Thursday as the sentiment was bolstered by dovish comments from a top Fed official while a series of strong economic data releases also increased investors’ risk appetite. At last check, the DJIA climbed 0.83%; the NASDAQ Composite Index jumped 0.82% while the S&P 500 Index gained 0.75%. Delivering a speech over region’s economic growth and the labor market, the New York Federal Reserve President William Dudley said on Thursday that the central bank will resort to more aggressive economic stimulating measures than the timeline set by its Chairman Bernanke,  should the economic growth and labor market falter. According to the National Association of Realtors, pending home sales rose 6% in May to a six year high level. The weekly first-time jobless claims fell 9,000 to seasonally adjusted 346,000 for the week ended June 22, said the Labor Department. Economists surveyed by Reuters expected initial claims at 345,000. The Commerce Department said that personal income rose 0.5% in May, beating analysts’ forecast for 0.2% increase. In the same period, consumer spending increased 0.3%, in-line with economists’ forecast. Shares of Progress Software Corporation (NASDAQ: PRGS) climbed about 5% by midday trade after the business software maker, late last evening said that it swung into fiscal second quarter profit, driven by higher revenue from software licensing. Shares of KB Home (NYSE: KBH) climbed about 3% by midday trade after the homebuilder said that its fiscal second quarter loss narrowed, thanks to rising average selling prices and home deliveries amid significantly improving U.S. housing market. Sports gear maker, Nike Inc. (NYSE: NKE) and IT consulting firm, Accenture Plc (NYSE: ACN) are slated to report quarterly results after the closing bell.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

ECB ready to adjust monetary policy, Coeure says in Greek paperECB ready to adjust monetary policy, Coeure says in Greek paper
ATHENS (Reuters) - The European Central Bank is ready to adjust its monetary policy further if needed and boost bank liquidity, ECB executive board member Benoit Coeure said in an essay published in G...
Exclusive: Bitcoin promoter to plead guilty to unlicensed money transmissionExclusive: Bitcoin promoter to plead guilty to unlicensed money transmission
NEW YORK (Reuters) - Bitcoin entrepreneur Charlie Shrem has reached a plea deal to resolve U.S. charges that he engaged in a scheme to sell over $1 million of the digital currency to users of illici...
Exclusive: Bitcoin promoter to plead guilty to unlicensed money transmissionExclusive: Bitcoin promoter to plead guilty to unlicensed money transmission
NEW YORK (Reuters) - Bitcoin entrepreneur Charlie Shrem has reached a plea deal to resolve U.S. charges that he engaged in a scheme to sell over $1 million of the digital currency to users of illici...
Italy's Renzi tries new reform plan as economy sinksItaly's Renzi tries new reform plan as economy sinks
ROME (Reuters) - Prime Minister Matteo Renzi on Friday presented a plan to quicken the pace of Italian justice and break down bureaucratic obstacles to investment as fresh data pointed to a further ...
U.S. judge sets hearing in Argentina bond case over Citi subpoenaU.S. judge sets hearing in Argentina bond case over Citi subpoena
NEW YORK (Reuters) - A U.S. judge overseeing litigation by Argentina and creditors who did not participate in the country`s past debt restructurings on Friday scheduled a hearing to assess whether Cit...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.