Dow, S&P 500 at new records after economic data
A board at the New York Stock Exchange shows the closing number for the Stand & Poor’s 500 index, center, Friday, Nov. 22, 2013. US stocks Wednesday, Nov. 27, rose to new records following a stream of mixed economic data on the eve of the Thanksgiving holiday. AP PHOTO/RICHARD DREW
NEW YORK—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.
Article continues after this advertisement“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.
