2010年11月25日星期四

Open: Unemployment data bullish U.S. stock market higher

U.S. stocks open higher on Wednesday. Pre-release employment, personal income and durable goods orders and other data show that the U.S. economy in good condition.

At 09:36 on November 24 EST, the Dow Jones industrial average rose 96.87 points to 11,133.24 points, or 0.88%; the Nasdaq composite index rose 30.78 points to 2,525.73 points, or 1.23%; the S & P 500 Index rose 10.89 points to 1,191.62 points, or 0.92%.

Economic data side, the U.S. Labor Department reported initial claims for unemployment benefits last week fell by 3.4 million to 40.7 million, the highest since July 2008 has been low, the market had expected a decline in 4000.

The United States in October personal income rose 0.5%, the highest increase during the year, one month before the personal income growth to zero. Last month, consumer spending increased 0.4%.

October durable goods orders fell by 3.3%, a decline in nearly two-year high, economists had expected growth of 0.1%. Durable goods orders in the past two-month decline in three months.

University of Michigan November consumer confidence and housing market data will be announced after U.S. stock market opening.

Fed minutes released yesterday show monetary policy-makers held a meeting three weeks ago on the reduction on the assessment of the U.S. economy.

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