Investing.com - U.S. stocks rose on Friday after official data
revealed more new homes were sold in the U.S. in April than markets
were expecting, a sign the once-battered housing sector continues
At the close of U.S. trading, the Dow 30 rose 0.38%, the S&P
500 index rose 0.42% to a record-high 1900.53, the first time ever
over the 1900 mark, while the NASDAQ Composite index rose
The Volatility S&P 500 index, which measures market
volatility, was down 5.15% at 11.41.
The housing sector, which threw the U.S. economy into the worst
downturn since the Great Depression and lagged on its recovery for
years, is on the mend.
The Census Bureau reported earlier that U.S. new home sales rose
6.4% to 433,000 units in April from 407,000 units in March, whose
figure was revised up from a previously estimated 384,000. Analysts
had expected new home sales to rise to 425,000 units last
A day earlier, the National Association of Realtors reported
that existing home sales increased 1.3% in April to an annual rate
of 4.65 million units, and hopes that the U.S. housing sector is
improving strengthened demand for the dollar on Friday.
In other news, computer maker Hewlett-Packard Company (NYSE:HPQ)
announced plans to lay off 16,000 workers as part of an ongoing
Leading Dow Jones Industrial Average performers included Nike
Inc (NYSE:NKE), up 1.28%, Visa Inc (NYSE:V), up 1.21%, and Walt
Disney Company (NYSE:DIS), up 1.18%.
The Dow Jones Industrial Average's worst performers included
Pfizer Inc (NYSE:PFE), down 0.56%, McDonald's Corporation
(NYSE:MCD), down 0.44%, and Chevron Corporation (NYSE:CVX), down
European indices, meanwhile, ended the day largely higher.
After the close of European trade, the DJ Euro Stoxx 50 rose
0.40%, France's CAC 40 rose 0.33%, while Germany's DAX rose 0.48%.
Meanwhile, in the U.K. the FTSE 100 fell 0.07%.
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