Wall Street ends higher as focus turns to earnings

Economies.com
2018-04-16 20:23PM UTC

US stock indices closed the first session of the week higher, with tech, healthcare shares leading the charge higher as concerns over the US-led strike on Syria soothed as indicators point to a one-off attack instead of a prolonged intervention, with President Trump announcing "Mission Accomplished" following the strike. 

 

Otherwise, earlier US data showed retail sales rose 0.6% in March, compared to a 0.1% dip in February, and beating expectations of a 0.4% rise, while core sales rose 0.2% in line with expectations. 

 

The Empire State Manufacturing Index slowed down to 15.8 in April from 22.5 in March, missing expectations of 14.9, while business inventories rose 0.6% as expected in February, as the NAHB Housing Market Index inched down to 69 from 70 in March, missing forecasts of 71. 

 

Federal Reserve Bank of Atlanta President Raphael Bostic spoke earlier today about the economy at the Shoals Chamber of Commerce, in Alabama, where he noted that wages haven't improved until now, while asserting the Federal Reserve is trying to push the local economy to full employment. 

 

Dow Jones rose 0.87%, or 212.90 points to 24,57.04, while Standard and Poor's 500 climbed 0.81%, or 21.54 points to 2,677.84, as NASDAQ Composite added 0.70%, or 49.63 points to 7,156.28. 

 

Gold futures due on June 15 inched up 0.07% to $1,348.80 an ounce from the opening of $1,347.90, while the dollar index fell 0.38% to 89.46 from the opening of 89.80. 

 

Otherwise, US crude futures due on May 15 fell 1.47% to $66.40 a barrel from the opening of $67.39, while Brent futures due on June 15 declined 1.41% to $71.56 a barrel from the opening of $72.58. 

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