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Article: U.S. stocks open higher on robust consumer spending report
- Article from:
- Xinhua News Agency
- Article date:
- May 26, 2006
CopyrightCopyright 2006 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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U.S. stocks open higher on robust consumer spending report
NEW YORK, May 26 (Xinhua) -- U.S. stocks opened higher on Friday
after a report showed U.S. consumer spending had jumped 0.6 percent
in April, the fastest rise in three months.
In the opening trading, the Dow Jones Industrial Average jumped
20.57 to 11,231.62. The Standard & Poor's 500 index rose 1.81 to
1,274.69 and the Nasdaq composite index advanced 8.75 to 2,206.99.
The Commerce Department reported on Friday that consumer spending
grew in April at its fastest pace in three months, supported by solid
income growth.
Consumer spending jumped 0.6 percent last month, the best showing
since a 0.8 percent rise in January, while ...