US stocks end higher; Nasdaq soars 3.33%
High consumer expenditures signal for strong demand, despite inflation.
Table of Contents (Show / Hide)
US stocks ended with gains this week following signals that price increases could be slowing.
Personal incomes increased by 0.4% in April, while consumer expenditures rose by 0.9%, both exceeding expectations.
The rise in expenditures showed that consumption remained strong despite rising prices, and spending could support economic growth.
The blue-chip Dow Jones Industrial Average ended up 1.76%, or 575.77 points, at 33,212.96.
The S&P 500 rose 100.40 points, or 2.47%, to close at 4,158.24 points.
Meanwhile, tech-heavy Nasdaq increased 390.48 points, or 3.33%, to reach 12,131.13.
Major stock exchanges in Asia and Europe also finished the week on the positive side.
URL :
News ID : 736
WTO agrees to extend e-commerce tariff moratorium
PayPal Announces a 9% Reduction in Global Workforce
Renault suspends its activities in Moscow
European Stocks Exhibit Gains; STOXX Europe 600 Bucks the Trend
Thai trans business tycoon buys Miss Universe organisation
Consumers turn merrier about the economy as Christmas beckons
How the FAA went to war against 5G
US stocks fail to recover from inflation-fueled losses, oil prices spike
Alex Jones fined $25,000 in Sandy Hook massacre defamation case
World Bank warns of slowing global growth, widening inequality
