U.S. stocks rally after reports on durable goods ordersJune 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. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |