Wall Street records second straight day of gains
( dpa )- Major Wall Street stock indices rose for a second straight trading session after news Tuesday of an unexpected monthly spike in orders for durable goods, sparking hope that the underlying US economy remains resilient.
December orders for durable goods, such as home appliances, rose by 5.2 per cent, sharply higher than expected.
"When you see a durable goods number like this and then earnings outside of the financial sector doing quite well, people are beginning to realize that perhaps the contagion effect may be somewhat limited," Damon Barglow , a money manager at Eastern Investment Advisors, told the Bloomberg financial news agency. "Equities look very attractive here, even the financials."
The blue-chip Dow Jones Industrial Average rose 96.41 points, or 0.78 per cent, to 12,480.3. The broader Standard & Poor's 500 Index gained 8.33 points, or 0.62 per cent, to 1,362.3. The technology- heavy Nasdaq Composite Index added 8.15 points, or 0.35 per cent, to 2,358.06.
The US currency edged higher against the euro to 67.675 from 67.63 euro cents on Monday. The dollar was up against the Japanese currency at 107.1 yen from 106.91 yen on Monday.
Gold was off 3.90 dollars to 928.90 dollars per fine ounce in New York.