Off the wire
• Criminality registers 10-pct drop in Italy: interior minister  • British terror plotter detained indefinitely  • 1st LD Writethru: U.S. stocks extend gains after GDP data  • U.S. State Department rejects lawmakers' call to close PLO office in Washington  • U.S. house prices rise 0.5 pct in October  • UN chief concerned over growing political uncertainty in Haiti  • 1st LD Writethru: NASA suspends 2016 launch of Mars lander due to instrument leak  • WFP, partners start aid delivery for thousands of people affected by Libya crisis  • Roundup: More than 2,700 civilians killed since start of conflict in Yemen in January  • UN Security Council slams Taliban attack in Afghanistan  
You are here: 　 Home

Roundup: U.S. stocks extend gains after GDP data

Xinhua, December 23, 2015 Adjust font size:

U.S. stocks continued to rally Tuesday, as Wall Street digested the newly-released U.S. real gross domestic product (GDP) data.

The Dow Jones Industrial Average jumped 165.65 points, or 0.96 percent, to 17,417.27. The S&P 500 added 17.82 points, or 0.88 percent, to 2,038.97. The Nasdaq Composite Index increased 32.19 points, or 0.65 percent, to 5,001.11.

U.S. Commerce Department announced Tuesday that the third estimate of real GDP increased at an annual rate of 2 percent in the third quarter of 2015, slightly down from the second estimate of 2.1 percent but above market expectations of 1.5 percent.

Meanwhile, U.S. total existing home sales plunged 10.5 percent in November from October's revised reading, logging the slowest pace in 19 months, the National Association of Realtors reported Tuesday.

"New industry regulation, including the addition of new forms that must be submitted and processed, have contributed to an increase in the closing time and likely responsible for the large pull back in sales in November," said Sophia Kearney-Lederman, an economic analyst at FTN Financial.

The continued weak oil prices were still in focus. Brent oil price kept falling on Tuesday after hitting an 11-year low Monday, as the market continued to be plagued by the global oversupply worries.

The West Texas Intermediate for February delivery moved up 33 cent to settle at 36.14 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery decreased 24 cents to close at 36.11 dollars a barrel on the London ICE Futures Exchange.

As it will take years to wash out the whole supply in oil market and reach the balance point where supply meets demand, many analysts do not expect oil prices will recovery soon.

Trading volumes are expected to be relatively light this week, as the U.S. stock markets operate a shortened session on Thursday and close on Friday for Christmas.

The CBOE Volatility Index, often referred to as Wall Street's fear gauge, decreased 11.23 percent to end at 16.60 on Tuesday.

In other markets, the U.S. dollar edged down against most major currencies on investors' profit-taking and negative housing data from the country.

In late New York trading, the euro increased to 1.0954 dollars from 1.0921 dollars in the previous session, while the dollar bought 121.04 Japanese yen, lower than 121.05 yen of the previous session.

Gold futures on the COMEX division of the New York Mercantile Exchange fell as technical trading outweighed the support from the falling U.S. dollar.

The most active gold contract for February delivery lost 6.5 dollars, or 0.60 percent, to settle at 1,074.1 dollars per ounce. Endit