US exchanges finish Monday’s session on positive note
Date
12/26/2024 8:15:55 AM
(MENAFN) US Stocks finished the day higher on Monday, buoyed by positive economic data and gains in technology stocks. The number of new home sales in the US saw a 5.9 percent increase on a monthly basis in November, reaching 664,000 units, signaling a resilient housing market and providing optimism to investors.
However, there were concerns in other areas of the economy. The Conference Board Consumer Confidence index fell by 8.1 points to 104.7 in December, compared to the previous month, reflecting a decrease in consumer sentiment. This decline could suggest that people are feeling less optimistic about the economic outlook, potentially impacting future spending.
Additionally, new orders for manufactured durable goods in the US dropped by 1.1 percent month-over-month in November, totaling USD285.1 billion. This reduction in durable goods orders raises concerns about the health of manufacturing activity, a crucial part of the economy.
Despite these mixed signals, major indices still saw gains. The Dow Jones Industrial Average rose by 66.69 points, or 0.16 percent, closing at 42,906.95. The S&P 500 increased by 43.22 points, or 0.73 percent, to finish at 5,974.07, while the Nasdaq Composite surged by 192.29 points, or 0.98 percent, closing at 19,764.88. The VIX volatility index dropped by 8.61 percent to 16.78, suggesting a reduction in market uncertainty.
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