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US stocks end with modest gains

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stocks boost the rally

U.S. stocks closed higher on Thursday, 13 June 2019 following back-to-back losses for major indexes, as investors monitored a sharp jump in after two were damaged in suspected attacks off the coast of

The rose 101.94 points, or 0.4%, to 26,106.77, and the S&P 500 index added 11.80 points, or 0.4%, to 2,891.64. The gained 44.41 points, or 0.6%, to 7,837.13.

Indices were lifted by shares of companies as rose after two were attacked off the coast of A swarm of buyers in the last few minutes of action boosted the index from near session lows to close out the session on a high note.

surged after reports about attacks on two in the Gulf of Oman, near the Strait of Hormuz, with the U.S. Navy rushing to assist the vessels. and U.S. Intermediate crude both jumped sharply.

Among economic data expected for the day, the number of Americans applying for jobless benefits in the week ended June 8 rose to 222,000 from 219,000 a week earlier. Market had forecast 218,000.

Separately, the cost of imported goods fell 0.3% last month, the Labor Department said Thursday.

From a broader perspective, the stock market has traded sideways over the last four sessions as it waits for further policy guidance from the Fed and for any updates on the U.S.-trade front. On a related note, China's called for more stimulus measures to support the Chinese economy.

In corporate news, group disclosed a 9.5% stake in

Demand for U.S. Treasuries persisted amid high expectations for the Fed to cut rates, and Treasuries advanced to session highs during the day. The 2-yr yield declined seven basis points to 1.82%, and the 10-yr yield declined four basis points to 2.09%. The U.S. Dollar Index increased 0.1% to 97.06.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 14 2019. 09:43 IST
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