New York Feb 2 (IANS) US stocks traded higher on Thursday as investors digested the latest economic data.
The Dow Jones Industrial Average gained 122.79 points or 0.47 per cent to 26 272.18. The S&P 500 increased 10.09 points or 0.36 per cent to 2 833.78 Xinhua news agency reported.
The Nasdaq Composite Index was up 14.77 points or 0.20 per cent to 7 425.79.
On the economic front in the week ending January 27 the advance figure for seasonally adjusted initial claims was 230 000 a decrease of 1 000 from the previous week s revised level the Labor Department said on Thursday.
The previous week s level was revised down by 2 000 from 233 000 to 231 000.
The four-week moving average was 234 500 a decrease of 5 000 from the previous week s revised average. The previous week s average was revised down by 500 from 240 000 to 239 500 said the department.
On Wednesday the US Federal Reserve left its benchmark interest rates unchanged at 1.25 to 1.5 per cent after its two-day meeting while giving an upbeat assessment of recent US economic growth.
"Gains in employment household spending and business fixed investment have been solid and the unemployment rate has stayed low " the Fed s policy-making committee said in a statement.
The Fed also expected US inflation on a 12-month basis to "move up this year and to stabilize" around the central bank s 2 per cent target over the medium term.
--IANS
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