Rally at wallstreet again....
Stocks had another strong finish Thursday as all three of the major indices finished more than 1% higher. The Dow Jones Industrial Average had the best performance, finishing near its high with a 1.9% gain.
Falling crude prices helped revive the optimistic mood among investors. Stocks had actually succumbed to selling pressure midday, but when crude dipped lower the stock market rallied. Crude shed roughly $5 to finish below $130 per barrel, its lowest level in more than one month.
Positive economic data also lent support to Thursday's advance. Housing starts for June increased 9.1% to an annualized rate of 1.066 million units, which is above the 960,000 consensus estimate. The lift in residential construction bodes well for overall economic activity.
__________________
To view links or images in signatures your post count must be 2 or greater. You currently have 0 posts.
|
To view links or images in signatures your post count must be 2 or greater. You currently have 0 posts.
|
"A market analyst is an expert who will know tomorrow why the things he predicted yesterday didn't happen today!"
|
|
