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WORLD / America |
Wall Street climbs after strong durables report(Xinhua)
Updated: 2008-01-30 00:08 NEW YORK -- Wall Street continued to go higher Tuesday after an unexpected climb in durable-goods orders. The market went positive to a report that orders for US-made durable goods surged in December, jumping 5.2 percent on higher demand for airplanes, communications equipment and defense capital goods. The increase far exceeded the expected 2.2 percent gain forecast and it was the largest gain in total orders since July 2007. The U.S. Conference Board's consumer confidence report for January is due for release at 10 a.m. EST (1500 GMT). Moreover, investors are confident that the Federal Reserve will lower interest rates at its two-day meeting by at least a quarter point. The Dow Jones industrial average increased 63.00 to 12,446.89. Broader stock indicators also advanced. The Standard & Poor's 500 index rose 7.71 to 1,361.69, while the Nasdaq composite index climbed 9.95 to 2,359.86. |
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