US stocks rise on upbeat data, P&G results

Written By Unknown on Kamis, 25 Oktober 2012 | 23.09

US stocks have scored solid opening gains as weekly unemployment claims and durable goods orders came in better than expected and Procter & Gamble earnings beat forecasts.

The Dow Jones Industrial Average was up 62.62 points, or 0.48 per cent, at 13,139.96 in early Thursday trading.

The broad-based S&P 500 advanced 9.27 points, or 0.66 per cent, to 1,418.02.

The Nasdaq Composite added 18.37 points, or 0.62 per cent, at 3,000.07.

The major indices rebounded from modest losses on Wednesday amid weak corporate earnings, "supported by some data from the US equity and economic fronts. Dow member Procter & Gamble Co reported stronger-than-expected earnings despite a decline in revenues," Charles Schwab & Co analysts said.

P&G shares jumped 2.5 per cent.


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