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US stocks close higher amid earnings, data

IANS  |  New York 

US stocks closed higher as investors digested latest corporate earnings reports and major economic data.

The Dow Jones Industrial Average on Thursday gained 293.60 points, or 1.21 per cent, to 24,483.05. The rose 21.80 points, or 0.83 per cent, to 2,663.99, reported.

The 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.

It reported diluted of $6.68 in the first quarter and revenue of $3.58 billion. Shares of rose 1.47 per cent to settle at $533.01 apiece.

reported quarterly earnings that beat estimates, despite rising costs. The company's adjusted diluted reached $0.74 and its adjusted operating revenue hit $9.8 billion, up 8 per cent year on year. Shares of the rose 2.93 per cent to settle at $52.98 apiece.

Citigroup, and are among the companies scheduled to report Friday morning.

On the economic front, new applications for US 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.

--IANS

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(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.)

First Published: Fri, April 13 2018. 06:32 IST
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