New York April 13 (IANS) US stocks closed higher as investors digested latest corporate earnings reports and major economic data.
The Dow Jones Industrial Average on Thursday gained 293.60 points or 1.21 per cent to 24 483.05. The S&P 500 rose 21.80 points or 0.83 per cent to 2 663.99 Xinhua news agency reported.
The Nasdaq Composite Index was up 71.22 points or 1.01 per cent to 7 140.25.
BlackRock the world s largest asset manager reported first-quarter earnings and revenue on Thursday that surpassed expectations.
It reported diluted earnings per share of $6.68 in the first quarter and revenue of $3.58 billion. Shares of BlackRock rose 1.47 per cent to settle at $533.01 apiece.
Delta Air Lines reported quarterly earnings that beat estimates despite rising costs. The company s adjusted diluted earnings per share reached $0.74 and its adjusted operating revenue hit $9.8 billion up 8 per cent year on year. Shares of the airline rose 2.93 per cent to settle at $52.98 apiece.
Citigroup J.P. Morgan Chase and Wells Fargo are among the companies scheduled to report Friday morning.
On the economic front new applications for US unemployment benefits fell last week pointing to sustained labor market strength.
In the week ending April 7 the advance figure for seasonally adjusted initial claims was 233 000 a decrease of 9 000 from the previous week s unrevised level of 242 000. The four-week moving average was 230 000 an increase of 1 750 from the previous week s unrevised average of 228 250 the Labor Department reported on Thursday.
--IANS
pgh/
