US stocks have pushed higher for a third day as bond yields fell again on easing worries that the Federal Reserve will soon cut back its stimulus program.
Stocks opened higher on Thursday, also helped by moderately positive economic data.
They gained support from comments by New York Fed chief William Dudley stressing that the central bank will not shut down its $US85 billion ($A92 billion) a month asset-purchase program - aimed at holding interest rates down - "if labour market conditions and the economy's growth momentum were to be less favourable" than the Fed currently predicts.
At 11am (0100 AEST), the Dow Jones Industrial Average was up 149.56 (1.00 per cent) at 15,059.70.
The broad-based S&P 500 added 14.63 (0.91 per cent) at 1,617.89, while the tech-rich Nasdaq Composite increased 32.57 (0.96 per cent) to 3,408.79.
The indexes extended two days of gains as the market bounces back from last week's steep declines.
Data releases suggested US economic growth remains at a moderate pace: consumer spending rebounded in May from April's fall, incomes were higher, inflation pressures remain low, new jobless claims were slightly improved, and pending home sales were strong.
"This morning's economic data are more supportive of the view that the Fed can hold off on tapering than not," said Patrick O'Hare of Briefing.com.
Bond prices jumped for a second day. The yield on the 10-year US Treasury fell to 2.50 per cent from 2.54 per cent late Wednesday, while the 30-year fell to 3.52 per cent from 3.57 per cent. Bond prices move inversely to yields.
Anda sedang membaca artikel tentang
US stocks rise for third straight day
Dengan url
http://koplakbolang.blogspot.com/2013/06/us-stocks-rise-for-third-straight-day.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
US stocks rise for third straight day
namun jangan lupa untuk meletakkan link
US stocks rise for third straight day
sebagai sumbernya
0 komentar:
Posting Komentar