On Wednesday the US stock indices grew amid the positive macroeconomic data. American investors are preparing for holiday season, buying the shares of retail sector that recovered their positions lost on Tuesday. At the end of trading Dow Jones Industrial Average rose by 150.91 points, or by 1.37%, to 11187.28, after it fell by 142 points on Tuesday. Standard & Poor’s soared by 17.62 points, or by 1.49%, to 1198.35, and Nasdaq Composite index gained 48.17 points, or 1.93%, to 2543.12. The US markets will be closed on Thursday and opened only for half a day on Friday.
Amazon.com shares reached new historical high, having showed the advance by $9.05, or by 5.4%, to $177.25 ahead of gift buying season. Oracle papers edged up 55 cents, or 2%, to $27.74. Court awarded Oracle a 1.3 billion dollars judgment against SAP AG because of intellectual-property theft. SAP shares lost 62 cents, or 1.3%, to $48.07. American depositary shares of UBS surged by 5 cents or by 0.32%, to $15.82 after the trustee recovering money for victims of Bernard Madoff’s Ponzi scheme accused the bank of active participation in the fraud and demanded 2 billion dollars.
The stocks of consumer and industry sectors led the growth on Wednesday after the latest data showed that the consumer were more optimistic regarding spending. The Reuters/University of Michigan consumer sentiment index rose to 71.6 in November versus October reading of 67.7. The number of initial jobless claims for a week November 20 fell by more than expected, having reached the lowest level since July 2008.
Meanwhile, the US consumer income was growing at faster paces than for the most part of the year. Consumer spending increased. However, the durable goods orders showed the sharpest decline in almost two years, and new home sales dropped for the fourth time in the last six months.
