Investing.com - U.S. stock prices posted solid gains on Thursday after economic indicators pointed to recovery in the housing and labor markets, two areas of the economy that have dampened economic healing for several years now.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.63%, the S&P 500 index was up 0.56%, while the Nasdaq Composite index rose 0.59%.
Investors on Thursday applauded data showing falling weekly jobless claims and rising housing starts.
In the U.S. earlier, U.S. Department of Labor reported that the number of individuals filing for weekly jobless benefits last week fell by 37,000 to a seasonally adjusted five-year low of 335,000, much more than market calls for a decline of 7,000 to 365,000.
Investors ditched dollar positions on the news and snapped up stocks.
Meanwhile, the Commerce Department said U.S. housing starts jumped by 12.1% in December to an annual unit rate of 954,000, the highest level since 2008, beating out expectations for a 4.6% increase to 890,000.
A separate report showed that the Philly Fed’s manufacturing index fell to -5.8 in January from 4.6 the previous month, missing expectations for a 5.8 reading, though investors shrugged off the data.
Leading Dow Jones Industrial Average performers included Intel, up 2.58%, Home Depot, up 1.88%, and Walt Disney, up 1.73%.
The Dow Jones Industrial Average's worst performers included Bank of America, down 4.07%, JPMorgan Chase, down 0.79%, and Hewlett-Packard, down 0.58%.
European indices, meanwhile, finished largely higher, mainly as Spanish borrowing costs fell.
After the close of European trade, the EURO STOXX 50 rose 0.61%, France's CAC 40 rose 0.96%, while Germany's DAX 30 finished up 0.58%. Meanwhile, in the U.K. the FTSE 100 finished up 0.38%.
On Friday, the U.S. will release preliminary data from the University of Michigan on consumer sentiment, a leading indicator of consumer spending.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.63%, the S&P 500 index was up 0.56%, while the Nasdaq Composite index rose 0.59%.
Investors on Thursday applauded data showing falling weekly jobless claims and rising housing starts.
In the U.S. earlier, U.S. Department of Labor reported that the number of individuals filing for weekly jobless benefits last week fell by 37,000 to a seasonally adjusted five-year low of 335,000, much more than market calls for a decline of 7,000 to 365,000.
Investors ditched dollar positions on the news and snapped up stocks.
Meanwhile, the Commerce Department said U.S. housing starts jumped by 12.1% in December to an annual unit rate of 954,000, the highest level since 2008, beating out expectations for a 4.6% increase to 890,000.
A separate report showed that the Philly Fed’s manufacturing index fell to -5.8 in January from 4.6 the previous month, missing expectations for a 5.8 reading, though investors shrugged off the data.
Leading Dow Jones Industrial Average performers included Intel, up 2.58%, Home Depot, up 1.88%, and Walt Disney, up 1.73%.
The Dow Jones Industrial Average's worst performers included Bank of America, down 4.07%, JPMorgan Chase, down 0.79%, and Hewlett-Packard, down 0.58%.
European indices, meanwhile, finished largely higher, mainly as Spanish borrowing costs fell.
After the close of European trade, the EURO STOXX 50 rose 0.61%, France's CAC 40 rose 0.96%, while Germany's DAX 30 finished up 0.58%. Meanwhile, in the U.K. the FTSE 100 finished up 0.38%.
On Friday, the U.S. will release preliminary data from the University of Michigan on consumer sentiment, a leading indicator of consumer spending.