US stocks closed higher on upbeat property market data

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Source: Dukascopy Bank SA
US stocks rallied on Thursday amid upbeat US property market data. The number of building permits issued in the US reached four-year peak in July. Adding to gains of the US equities, Angela Merkel approved ECB actions aimed at combating Eurozone's debt crisis.  Germany's Chancellor also pledged to do whatever it takes to preserve the single currency. The S&P 500 Index gained 0.71% to trade at 1,415.51. Seven out of ten industries included in the index surged. The biggest gains poised technology and basic materials companies.  Dell and Apple soared 0.55% and 0.87% while Ball and Ecolab jumped by 1.15% and 2.58%. On Thursday, legal battle between Apple and Samsung went on after Apple presented a couple of documents indicating that Google forced Samsung to redesign some of its products as they were very similar to Apple's ones.  At the same time, health care and utilities moved lower, with Celgene and Public Service Enterprise sliding 0.94% and 0.73%.

 

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