US stocks climb on upbeat data, Fed hopes
NEW YORK: US stocks rose on Wednesday following an upbeat report on durable-goods orders and amid hopes that the US central bank chief might endorse new stimulus measures later this week.
The Dow Jones Industrial Average rallied 143.27 points (1.28 percent) to stand at 11,320.03 in closing trade.
The broader S&P 500 rose 15.21 points (1.31 percent) to 1,177.56, while the tech-heavy Nasdaq Composite added 21.63 points (0.88 percent) to close at 2,467.69.
The US Commerce Department said new orders for US durable goods rebounded 4.0 percent in July from June, boosted by a surge in aircraft orders.
Separately, Federal Reserve chairman Ben Bernanke is set to give a speech on Friday which will be closely watched for signs of whether he endorses a further loosening of monetary policy to boost the sluggish US economy.
Copyright AFP (Agence France-Presse), 2011
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