BUSINESS US stocks rise amid rallying Disney shares

BUSINESS

US stocks rise amid rallying Disney shares

Xinhua

08:25, June 14, 2019

NEW YORK, June 13 (Xinhua) -- US stocks climbed on Thursday, boosted by the strong gains in energy and Disney shares.

000_1H43PP.jpg

Traders on the floor of the New York Stock Exchange (File photo: AFP)

The Dow Jones Industrial Average jumped 101.94 points, or 0.39 percent, to 26,106.77. The S&P 500 increased 11.80 points, or 0.41 percent, to 2,891.64. The Nasdaq Composite Index was up 44.41 points, or 0.57 percent, to 7,837.13.

The Walt Disney stock rose 4.44 percent to close at 141.74 US dollars apiece after an analyst at Morgan Stanley raised his price target on the stock to 160 dollars per share from 135 dollars. The analyst attributed his optimism to the company's new streaming service.

The S&P 500 energy sector advanced 1.25 percent, outpacing the rest. Health care fell 0.11 percent, the only decliner among the 11 primary S&P 500 groups.

On the economic front, the US initial jobless claims, a rough way to measure layoffs, registered 222,000 in the week ending June 8, an increase of 3,000 from the previous week's revised level, the Department of Labor reported. Economists polled by MarketWatch estimated that new claims would total a seasonally adjusted 218,000.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue