Wall Street climbs after positive data

2023-01-26 15:36PM UTC

US stock indices climbed on Thursday after strong data that showed continued growth in the world's largest economy.


US economy grew 2.9% in the fourth quarter of 2022, beating estimates of 2.6%, while up from 3.2% in the third quarter.


US durable goods orders rose 5.6% in November, beating estimates of 2.4%, and improving from October's 2.1% decline.



US unemployment claims tumbled to 181 thousand in the week ending January 21, the slowest since last April, and below estimates of 203 thousand, while also down from 192 thousand in the previous reading.


Such data indicate the strength and vitality of the economy, which is reflected in recent statements by the IMF expecting the US recession to avoid recession this year. 


Dow Jones rose 0.3%, or 100 points as of 15:34 GMT to 33,844, while S&P 500 rose 0.7%, or 26 points to 4,043, as NASDAQ added 1.1%, or 130 points to 11,442. 

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