US stocks advance: S&P 500, NASDAQ, and DOW close higher

IconCryptoNewsTerminal Staff12 Jul, 2024

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US stocks advance: S&P 500, NASDAQ, and DOW close higher

The three major US stock indexes closed higher on Wednesday, with the S&P 500 gaining 0.55%, the NASDAQ Composite rising 0.63%, and the Dow Jones Industrial Average climbing 0.62%. The S&P 500 closed at 4,698.15, a gain of 25.68 points. The NASDAQ Composite closed at 16,042.54, a gain of 101.41 points. The Dow Jones Industrial Average closed at 36,334.36, a gain of 225.82 points. The gains came after a mixed bag of economic data. On the positive side, a report showed that the US economy grew at a 2.9% annualized rate in the fourth quarter. This was slightly above expectations. However, a separate report showed that jobless claims unexpectedly rose last week, suggesting that the labor market may not be as strong as previously thought.

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