U.S. stock indexes rose Thursday amid mixed economic data, including a weak report on new home sales.

The Dow Jones industrial average closed up 34.79 points, or 0.25 percent, at 13,912.94. The Nasdaq composite was up 10.59, or 0.39 percent, at 2,709.59, almost reaching its 6 ½ year high. The Standard and Poor's 500 Index rose 5.94, or 0.39 percent, at 1,531.38.

Volume was 1.18 billion shares traded on the New York Stock Exchange with 2,215 stocks rising and 1,078 declining.

Crude oil for November delivery gained $2.58, or 3.2 percent, to close at $82.88 while investors kept watch on two stormy conditions brewing in the Gulf of Mexico.

Bonds gained. The benchmark 10-year note added 12/32, or $3.75 for every $1,000 invested, to yield 4.575 percent Thursday.

The dollar was mixed. The euro was at $1.4147 from $1.4125 against the dollar late Wednesday. The dollar was at 115.65 yen from 115.55 yen late Wednesday.

New home sales fell to a seven-year low in August, the U.S. Commerce Departrment announced. Sales decreased by 8.3 percent last month to a seasonally adjusted annual rate of 795,000, the lowest since June 2000.

The Commerce Department said second-quarter gross domestic product rose at a 3.8 percent annual rate, a revision down from a previously reported 4 percent increase.

The U.S. Labor Department said jobless claims fell 15,000 to 298,000 on a seasonally adjusted basis last week.  // Copyright 2007 by United Press International



Publication date: 28 September 2007   

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