Dow Jones and S&P 500 set new records after economic report

By Agence France-Presse
Wednesday, November 27, 2013 18:30 EDT
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Traders work on the floor of the New York Stock Exchange at the closing bell on Nov. 18, 2013 [AFP]
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US stocks Wednesday rose to new records following a stream of mixed economic data on the eve of the Thanksgiving holiday.

At the closing bell, the Dow Jones Industrial Average tacked on 24.21 (0.15 percent) at 16,097.01.

The broad-based S&P 500 rose 4.49 (0.25 percent) to 1,807.24, also reaching a new record. The tech-rich Nasdaq Composite Index added 27.00 (0.67 percent) at 4,044.75.

The gains came after a stream of economic data ahead of Thanksgiving, for which US markets will be closed Thursday.

While data on durable goods disappointed, analysts pointed to solid reports on jobless claims and consumer confidence. Analysts said the data was strong enough to keep the bull market going on a day when volumes were low.

“By and large the economic numbers were okay and point to an economy picking up a bit,” said Peter Cardillo, chief market economist at Rockwell Global Capital.

[Image via Agence France-Presse]

Agence France-Presse
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