BUSINESS US stocks open higher amid economic data

BUSINESS

US stocks open higher amid economic data

Xinhua

22:54, June 26, 2019

NEW YORK, June 26 (Xinhua) -- US stocks opened higher on Wednesday as investors digested a batch of economic data.

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File photo: VCG

Shortly after the opening bell, the Dow Jones Industrial Average increased 76.07 points, or 0.29 percent, to 26,624.29. The S&P 500 was up 9.98 points, or 0.34 percent, to 2,927.36. The Nasdaq Composite Index added 63.76 points, or 0.81 percent, to 7,948.47.

New orders for manufactured durable goods in May decreased 3.3 billion US dollars or 1.3 percent to 243.4 billion dollars, the Commerce Department said on Wednesday.

The decline, third time in four months, was largely due to a canceled deal for Boeing's 737 Max jet.

A separate report on international trade in goods showed that the US trade deficit climbed 5.1 percent in May to reach 74.5 billion dollars.

On Tuesday, all three major indices declined as the market was disappointed at Federal Reserve Chairman Jerome Powell's remarks on the central bank's possible monetary policy moves as well as weaker-than expected economic data.

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