US stocks rise on better-than-expected economic data

April 2nd, 2009 - 5:34 am ICT by IANS  

New York, April 2 (Xinhua) Wall Street rose Wednesday on better than expected economic data.
The US National Association of Realtors said its seasonally adjusted index of pending sales for previously occupied homes rose 2.1 percent to 82.1 in February from January’s record low of 80.4.

Meanwhile, the Institute for Supply Management says its manufacturing index rose to 36.3 percent last month from 35.8 percent in February. Economists had expected the index to rise to 36.

The better-than-expected housing and manufacturing data overshadow concern about that General Motors will file for bankruptcy.

The Dow Jones average rose 152.68, or 2 percent, to 7,761.60. The Standard & Poor’s 500 index rose 13.21, or 1.7 percent, to 811. 08. The Nasdaq composite index gained 23.01, or 1.5 percent, to 1,551.60.

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