Wall Street capped mixed on June 24, as the U.S. government reported orders to U.S. factories for big-ticket manufactured goods rose sharply for a second straight month in May, while higher U.S. dollar weighed on the big board.
The U.S. Commerce Department said on June 24 that demand for durable goods rose 1.8 percent last month, far better than the 0.6percent decline that economists expected.
The data boosted stocks even as the Commerce Department later said sales of new homes fell 0.6 percent last month. The market had expected a rise.
Oracle, the second-largest software marker, surged and lifted technology-heavy Nasdaq after saying results for its most recent quarter exceeded analysts' average forecast.
Raw materials producers led the rally as metal prices climbed on expectations for higher demand for metals after the Organization for Economic Cooperation and Development raised its forecast.
However, The Standard & Poor's 500 Index pared gains and the Dow Jones Industrial Average fell after the Federal Reserve disappointed investors by not increasing the size of its 1.75 trillion U.S. dollars bond-purchase program. The U.S. dollar gained on the news and weighed on commodity stocks. The Fed also announced to keep its key rate unchanged at the meeting.
The Dow Jones fell 23.05, or 0.28 percent, to 8,299.86. Broader indexes perked up. The Standard & Poor's 500 index rose 5.84, or 0.65 percent, to 900.94; and the Nasdaq added 27.42, or 1.55 percent, to 1,792.34.
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article