 U.S. stocks rally after reports on durable goods orders June 27, 2012 - 20:31 AMT PanARMENIAN.Net - U.S. stocks rallied Wednesday, June 27 following strong reports on durable goods orders and housing. But trading could turn choppy ahead of a key two-day Europe summit. Durable goods orders for May increased 1.1% to $217.2 billion. And pending home sales rose to their highest level in two years in May. That's the third positive housing report this week, and investors are taking heart. "These are good data points because housing really demonstrates employment and the durable goods number says businesses are spending," said said Kim Caughey Forrest, senior equity analyst at Fort Pitt Capital Group. The Dow Jones industrial average added 82 points, or 0.7%, the S&P 500 rose 9 points, or 0.7% and the Nasdaq gained 18 points, or 0.6%, CNNMoney reported. Partner news  Top stories Tigran Sargsyan noted that the new plant will be constructed after the current one is finally out of operation. IFC invested $244 million in 40 projects across a range of sectors, including financial markets, manufacturing, and mining. Armenian Prime Minister addressed a letter to Public Services Regulatory Commission over the reconsideration of gas prices. Armenia’s Public Services Regulatory Commission plans to reconsider electricity generation and distribution prices.   Partner news |  Latest news Russian expert rules out Karabakh war renewal by Armenia  Alexander Krylov: the possibility of the renewal of Karabakh war should not be exaggerated in the face of the balance of power.German scientists ready to include Armenian petroglyphs in UNESCO list The scientists conducted a survey of ancient rock art, with a database of Armenian petroglyphs to be later developed.OSCE Minsk Group Co-Chairs won’t visit Artsakh French Co-Chair of the OSCE Minsk Group Jacques Faure said the co-chairs are not planning a visit to Nagorno Karabakh.Penguin reaches $75mln agreement in iBooks price fixing lawsuit In a press release, Penguin's parent company, Pearson, noted it had made a $40 million provision for settlement in its 2012 accounts. |
