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Overnight Markets: Wall Street rises amid Nasdaq trade halt
by Himanshu Singh on Aug 23, 2013 at 03:22
Wall Street gained on Friday with data showing improvement in global manufacturing and the American labour market amid a trading session interrupted by a historic trading halt of roughly three hours on the Nasdaq stock exchange as a result of technical problems.
The Dow Jones industrial average rose 66 points or 0.44%, to 14,964, the S&P 500 gained 14 points or 0.86%, to 1,657 and the Nasdaq Composite added 39 points or 1.08%, to 3,639.
All traffic through Nasdaq OMX Group Inc, the second-largest US stock exchange stopped at 12:14 p.m. (1614 GMT), the exchange said on its website. The exchange resumed trading with a single stock, Atlantic American Corp (AAME.O), at 3:00 p.m. (1700 GMT).
Microsoft (MSFT.O) up 2.5%, while Apple (AAPL.O) edged up 0.1%. Amazon.com (AMZN.O) closed 1.8%.
The Dow industrials gained for the first time in seven sessions after upbeat data from the world's top economies. However, the Gains were limited by Hewlett-Packard (HPQ.N), which tumbled 12.5% a day after reporting a decline in the Enterprise Group's revenue.
A gauge of homebuilders added 1.9% after a report showed house prices rose 7.7% in June from a year ago. Toll Brothers Inc. gained 2.6% and PulteGroup Inc. climbed 1.4%.
Yahoo Inc. rallied 3.1% as data showed it attracted more US visitors than Google Inc. in July.
Abercrombie & Fitch Co. plunged 18% as second-quarter earnings that fell short of forecasts.
Meanwhile, an economic data showed the fewest workers in more than five years applied for US unemployment benefits over the past month, indicating the labour market continues to improve.
Overseas reports showed Germany led growth in manufacturing and services in the euro area, while a gauge for China’s factory output unexpectedly showed expansion.
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