U.S. stocks rally on better than expected housing and jobless data

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Source: Dukascopy Bank SA
U.S. equities rallied, with the Standard & Poor's 500 Index peaking at its five-year high on initial unemployment claims that beat the estimates and better than expected housing data. The S&P 500 climbed 0.6% to close at 1,480.94. All but one sector edged higher within the gauge. Cbs Corp.soared 1.7% to $40.95 as the company's owner revealed its plans to convert the division of outdoor advertising into real estate investment trust. The most popular U.S. television network's owner also aims at selling the Asian and European parts of that business. KLA-Tencor Corporation, in turn, advanced 7% to $51.89 to pace gains in the technology sector that was 0.30% up. The largest home builder in the U.S. Pultegroup posted third biggest gain of 5.3% to close at $20.37. Meanwhile, Bank of America paired biggest loss in the benchmark index with its shares easing 4.2% to $11.28 after reporting that its profit slid 63% due to falling revenue and more costs induced by cleaning up bad mortgages. J.C. Penney Company Inc. Holdings erased 2.92% to cap further gains in consumer services sector that was 0.9% up.
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Fri, 18 Jan 2013 12:51:04 GMT

Dow close to its highest level since 2007

U.S. blue chips advanced as U.S. housing starts rose 12.1% to 954,000 in December to 954,000 on annual basis and the number of unemployment claimants dropped by 37,000 to 330,000, the lowest level since January 2008, last week. The Dow Jones Industrial Average advanced 0.6% to 13,596.02. All but one sector gained in the index. Intel Corp. shares surged 2.6%,

Fri, 18 Jan 2013 17:49:30 GMT

S&P 500 rises to a five-month high

The Standart & Poor's 500 Index increased by 0.6% to 1,480.94 points in the end of New York trading session on Thursday. The major stock index reached the highest level in the last five years on better than estimated initial jobless claims and data from housing sector. Investors traded with bullish sentiments, as housing starts increased by 12.3% in December

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