U.S. stocks rise amid economic data
Nov 19, 2022
New York [US], November 19: U.S. stocks finished higher on Friday as investors digested the latest economic data.
The Dow Jones Industrial Average climbed 199.37 points, or 0.59 percent, to 33,745.69. The S&P 500 added 18.78 points, or 0.48 percent, to 3,965.34. The Nasdaq Composite Index was up 1.10 points, or 0.01 percent, to 11,146.06.
Nine of the 11 primary S&P 500 sectors ended in green, with utilities and real estate up 2 percent and 1.29 percent, respectively, outpacing the rest. Energy and communication services dipped 0.9 percent and 0.35 percent, respectively, the only two declining groups.
The market gains came despite a slew of lackluster economic data.
The National Association of Realtors reported Friday that U.S. existing home sales declined 5.9 percent in October, dropping for a ninth straight month, as surging mortgage rates and high prices pushed buyers out of the market.
Elsewhere, New York-based The Conference Board said the U.S. Leading Economic Index fell for an eighth consecutive month in October, "suggesting the economy is possibly in a recession."
For the week, the Dow slipped less than 0.01 percent, the S&P 500 decreased 0.7 percent and the Nasdaq fell 1.6 percent.
Source: Xinhua
