NEW YORK - Wall Street closed higher on Thursday as upbeat earnings and strong economic data put investors in a buying mood, with technology companies leading the charge.
On the economic front, groundbreaking on new U.S. homes increased more than expected in April, according to the Commerce Department, as declining interest rates provided support to the struggling housing sector.In a separate report from the Labor Department, 16,000 fewer Americans applied for unemployment last week, beating economist estimates.
Washington placed Huawei Technologies Co on a blacklist which bans it from acquiring components and technology from U.S. firms without prior approval. The Dow Jones Industrial Average rose 214.66 points, or 0.84%, to 25,862.68, the S&P 500 gained 25.36 points, or 0.89%, to 2,876.32 and the Nasdaq Composite added 75.90 points, or 0.97%, to 7,898.05.
Analysts now expect first-quarter earnings growth of 1.4%, a significant improvement over the 2% loss expected on April 1.
For now...
I smell rotten fish here. Any1 pay attention each time the market plunges, 1 or 2 days later it rebounds? Like unemployment & financial health, the of people who can’t survive on the money they make, the companies that either have reduced size or gone out of business with no
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