US stocks rise on positive economic data
Washington - US stocks jumped Thursday on positive economic news, including an increase in pending homes sales and a drop to a three-year low in new claims for US unemployment benefits over the last month.
The four-week moving average for jobless claims decreased to 375,000 last week, the lowest level since June 2008, Labour Department figures showed.
The National Association of Realtors' index of pending home sales grew 7.3 percent to the highest level since April 2010, figures showed.
The blue-chip Dow Jones Industrial Average jumped 135.63 points, or 1.12 per cent, to 12,287.04. The broader Standard & Poor's 500 Index also increased, gaining 13.38 points, or 1.07 per cent, to 1,263.02. The technology-heavy Nasdaq Composite Index rose 23.76 points, or 0.92 per cent, to 2613.74.
The US currency edged down slightly against the euro to 77.15 euro cents from 77.27 euro cents on Wednesday. The dollar slid against the Japanese currency to 77.65 from 77.97 yen.//DPA
