Drop In Jobless Claims Push Stocks Up

Windsor Genova – AHN News News Writer

New York, NY, United States (AHN) – The report of a huge drop in unemployment claims stirred a Wall Street rally on Wednesday despite lower sales of new homes and durable goods.

The Dow Jones Industrial Average climbed 151 points or 1.4 percent to close at 11,187. American Express, Boeing and Caterpillar led gainers among the blue chips.

The Standard & Poor’s 500 Index rose 18 points or 1.5 percent to 1,198 with industrials and consumer discretionary shares as the top gainers.

The Nasdaq Composite Index was up 48 points or 1.9 percent to 2,543.

Crude oil futures for January delivery rose $2.61 to $84 per barrel to end three days of decline.

Gold futures for December delivery dipped by $4.60 to settle at $1,373 an ounce.

There will be no trading on Thursday as the country celebrates Thanksgiving Day.

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