While you were sleeping: US economic data lift

Wed, 27 Jun 2012

By Margreet Dietz June 28 (BusinessDesk) - Better-than-expected data on US housing and durable goods orders provided optimism for Wall Street that the slowdown in the pace of growth might not be as bad as feared. Underpinning gains was a report fuelling hopes that China might act to bolster the pace of expansion in the world's No. 2 economy. In late afternoon trading in New York, the Dow Jones Industrial Average gained 0.67 percent, the Standard & Poor’s 500 Index climbed 0.76 percent, and the Nasdaq Composite Index rose 0.46 percent. "We a...

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