[NEW YORK] Industrials led the S&P 500 and the Dow moderately higher on Thursday after robust US economic data and some healthy corporate earnings reports.For the holiday-shortened week, the S&P snapped its three-week winning streak, while the Dow and the Nasdaq posted weekly gains.
Industrial stocks boosted the markets following upbeat quarterly results and remarks from China's commerce ministry spokesman that progress has been made in US-China trade talks. "Expectations were so low going into the quarter, there's been some nice surprises," Mr Keator added. Union Pacific Corp shares advanced 4.4 per cent after beating earnings estimates as price hikes helped the railroad offset the impact of severe weather and midwest floods.
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