Higher new home sales boost U.S. stocks

Russia News.Net
Wednesday 25th November, 2009

U.S. stocks were modestly higher on Wednesday with positive economic data being released on two fronts.

Sales of new houses rose last month to a record-setting level for the year. Jobless benefits claims meantime fell sharply over the week.

Trading was winding down Wednesday ahead of Thanksgiving which kept a cap on gains.

The U.S. dollar was sharply lower, particularly against the euro, while gold rose to a new record above $1,180 an ounce.

At the close of trading Wednesday the Dow Jones Industrials were up 30.69 points or 0.29% at 10,464.40.

The Nasdaq Composite was up 6.87 points or 0.32% at 2,176.05.

The Standard and Poor's 500 was ahead 4.98 points or 0.45% at 1,110.63.

The euro was trading at 1.5143 around the New York close Wednesday. The Japanese yen jumped to 87.32, while the British pound climbed to 1.6724.

The Swiss franc was solidly higher at .9958, as was the Australian dollar at .9318.

The Canadian dollar strengthened to 1.0452.

Have your say on this story