ALSO READUS stocks open higher amid earnings, data Vigilance required against a likely stock market bubble: Economic Survey Wall Street Weekahead: High stakes, high expectations as earnings season heats up Jaitley proposes tighter norms for tax on capital gain bonds Analysis: Dividend plays on slippery ground as bond yields steepen
US stocks closed higher as investors digested latest corporate earnings reports and major economic data.
The Nasdaq Composite Index was up 71.22 points, or 1.01 per cent, to 7,140.25.
BlackRock, the world's largest asset manager, reported first-quarter earnings and revenue on Thursday that surpassed expectations.
Delta Air Lines reported quarterly earnings that beat estimates, despite rising costs. The company's adjusted diluted earnings per share reached $0.74 and its adjusted operating revenue hit $9.8 billion, up 8 per cent year on year. Shares of the airline rose 2.93 per cent to settle at $52.98 apiece.
On the economic front, new applications for US unemployment benefits fell last week, pointing to sustained labor market strength.
In the week ending April 7, the advance figure for seasonally adjusted initial claims was 233,000, a decrease of 9,000 from the previous week's unrevised level of 242,000. The four-week moving average was 230,000, an increase of 1,750 from the previous week's unrevised average of 228,250, the Labor Department reported on Thursday.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)