U.S. stocks close higher on strong earnings, data

NEW YORK, April 26 (Xinhua) -- U.S. stocks ended higher on Thursday as investors cheered on strong earnings reports and positive economic data from the country.

The Dow Jones Industrial Average added 238.51 points, or 0.99 percent, to 24,322.34. The S&P 500 climbed 27.54 points, or 1.04 percent, to 2,666.94. The Nasdaq Composite Index was up 114.94 points, or 1.64 percent, to 7,118.68.

U.S. social media giant Facebook reported first-quarter earnings and revenue that beat market expectations after the closing bell on Wednesday. Shares of the company closed 9.2 percent higher on Thursday.

U.S. semiconductor company Advanced Micro Devices also posted better-than-forecast earnings, sending its stock more than 13 percent higher.

So far, the earnings season is off to a good start. Of the S&P 500 companies that have reported, 81 percent have posted better-than-forecast earnings, according to latest data from U.S. research firm FactSet.

On the U.S. economic front, new orders for manufactured durable goods in March increased 2.6 percent, beating market estimates, the Commerce Department said on Thursday.

The Labor Department reported on Thursday that in the week ending April 21, the advance figure for seasonally adjusted initial jobless claims was 209,000, a decrease of 24,000 from the previous week's revised level. This is the lowest level for initial claims since December 6, 1969 when it was 202,000. Enditem