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U.S. stocks jump on strong economic data

By Agence France-Presse
Thursday, August 1, 2013 18:36 EDT
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Traders work on the floor of the New York Stock Exchange during afternoon trading (AFP)
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US stocks rallied sharply Thursday on strong economic data from China, Europe and the United States.

At the closing bell, the Dow Jones Industrial Average was up a hefty 125.80 (0.81 percent) at 15,625.34.

The broad-based S&P 500 jumped 21.08 (1.25 percent) to 1,706.81, an all-time closing high.

And the tech-rich Nasdaq Composite Index shot up 49.37 (1.36 percent) to 3,675.74. Briefing.com analyst Patrick O’Hare said markets were reacting to a “battery of better-than-expected headlines.”

These included data that showed strong manufacturing activity in the eurozone and China and the lowest reading of weekly US jobless claims since January 2008.

O’Hare also cited decisions by the European Central Bank and Bank of England to maintain low interest rates.

Agence France-Presse
Agence France-Presse
AFP journalists cover wars, conflicts, politics, science, health, the environment, technology, fashion, entertainment, the offbeat, sports and a whole lot more in text, photographs, video, graphics and online.
 
 
 
 
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