New home sales rose 0.3% for April month-over-month to an annual rate of 352,000 units, smaller than the 1.1% gain expected by economists. March sales were revised significantly lower, to a drop of 3.0%, from the fall of 0.6% initially reported.
Durable goods orders increased 1.9% in April, much better than the expected improvement of just 0.5% month-over month. However, March data was revised significantly lower, from a previously announced decline of 0.8% to a 2.1% drop. Ex-transportation, orders were also better than expected – rising 0.8% compared to a forecasted decline of 0.3%.
The Dow Jones Industrial Average rose 104 points (1.3%) to close at 8,404, the S&P 500 Index advanced 14 points (1.5%) to 907, and the Nasdaq Composite gained 21 points (1.2%) to 1,752. Crude oil rose $1.39 to $64.84 per barrel, and gold advanced $8.73 to $958.62 per ounce.
Magnificent Seven Update
Daily Update Of Open Positions...Stocks & ETFs
