NEW YORK: US stocks climbed Thursday as investors welcomed a decline in US jobless claims and continued manufacturing growth, as well as signs of economic improvement in Asia and Europe.
The Dow Jones Industrial Average rose 70.44 points (0.65 per cent) to finish at 10,927.07, clawing back Wednesday’s losses.
The tech-rich Nasdaq composite advanced 4.62 points (0.19 per cent) to 2,402.58 and the broad-market Standard & Poor’s 500 index gained 8.67 points (0.74 per cent) at 1,178.10.
Encouraging economic news lifted shares on the first day of trading in the second quarter, ahead of a long Easter holiday weekend. The stock market is closed Friday.
“After yesterday’s decline on a disappointing employment report, stocks are nicely higher, continuing their recent rally to start 2Q, led by a plethora of upbeat manufacturing reports across the globe, which featured the eighth-straight month of expansion for the US ISM Manufacturing Index,” Charles Schwab & Co. analysts said in a client note.
Market sentiment also found support in official data showing initial claims for US unemployment insurance benefits fell last week to the lowest level this year.
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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