http://www.news.com.au/business/bre.../story-e6frfkur-1225916924897?from=public_rss
US stocks soared overnight after new data showing an improvement in the job market and a narrowing trade gap bolstered hopes that the US economy was on a recovery track.
The Dow Jones Industrial Average jumped 80.15 points (0.77 per cent) to 10,467.16 in opening trades, while the broader S&P 500 index gained 10.87 points (0.99 per cent) to 1109.74 points.
The tech-rich Nasdaq composite index was up 20.20 points (0.92 per cent) to 2248.97.
Shortly before the opening bell, Labor Department figures showed the number of Americans filing new claims for jobless benefits last week fell faster than expected to 451,000, down 27,000 from the previous week's revised figure.
Data released by the Department of Commerce showed the US trade deficit dropped more than expected in July to 42.8 billion dollars as exports reached their highest level in two years.
"A much steeper-than-anticipated drop in jobless claims and a larger narrowing of the trade deficit than forecasted are giving a boost to sentiment in morning trading," analysts at Charles Schwab said in a note.
Well look at that, aye!
US stocks soared overnight after new data showing an improvement in the job market and a narrowing trade gap bolstered hopes that the US economy was on a recovery track.
The Dow Jones Industrial Average jumped 80.15 points (0.77 per cent) to 10,467.16 in opening trades, while the broader S&P 500 index gained 10.87 points (0.99 per cent) to 1109.74 points.
The tech-rich Nasdaq composite index was up 20.20 points (0.92 per cent) to 2248.97.
Shortly before the opening bell, Labor Department figures showed the number of Americans filing new claims for jobless benefits last week fell faster than expected to 451,000, down 27,000 from the previous week's revised figure.
Data released by the Department of Commerce showed the US trade deficit dropped more than expected in July to 42.8 billion dollars as exports reached their highest level in two years.
"A much steeper-than-anticipated drop in jobless claims and a larger narrowing of the trade deficit than forecasted are giving a boost to sentiment in morning trading," analysts at Charles Schwab said in a note.
Well look at that, aye!