US stocks finish higher amid economic data

New York, Aug 22 (IANS) US stocks ended higher on Friday as Wall Street digested a slew of economic data.

The Dow Jones Industrial Average rose 190.60 points, or 0.69 per cent, to 27,930.33. The S&P 500 was up 11.65 points, or 0.34 per cent, to 3,397.16. The Nasdaq Composite Index increased 46.85 points, or 0.42 per cent, to 11,311.80, Xinhua reported.

Seven of the 11 primary S&P 500 sectors advanced, with technology closing up 1.21 per cent, leading the gainers. Energy sank 0.63 per cent, the worst-performing group.

US-listed Chinese companies traded mostly higher, with seven of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on an upbeat note.

On the data front, Flash U.S. Composite Output Index registered 54.7 in August, up from the July reading of 50.3, London-based global information provider IHS Markit reported on Friday.

US total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, jumped 24.7 per cent from June to a seasonally-adjusted annual rate of 5.86 million in July, according to the National Association of Realtors.

–IANS

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