World Business

Wall Street rises on positive economic data

(Xinhua)
Updated: 2010-04-02 13:26
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NEW YORK: US stocks rose on Thursday, the final trading day of the holiday-shortened week, buoyed by better- than-expected readings on initial jobless claims and manufacture activity.

The US Labor Department said that initial claims for unemployment benefits slipped 6,000 to a seasonally adjusted 439,000, in line with market expectations.

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A report from the Institute for Supply Management also showed a rosy picture in the US manufacturing sector. The ISM manufacturing index came in at a six-year high of 59.6, compared with an expected reading of 57, reflecting strong growth from February's level of 56.6.

The Dow Jones industrial average was up 70.44, or 0.65 percent, to 10,927.07. The Standard & Poor's 500 index rose 8.67, or 0.74 percent, at 1,178.10 and the Nasdaq was up 4.62, or 0.19 percent, to 2,402.58.
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