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Article: U.S. stocks trade 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 trade higher on robust consumer spending report
NEW YORK, May 26 (Xinhua) -- U.S. stocks traded higher Friday
after a report that the U.S. consumer spending has jumped 0.6 percent
in April, the fastest in three months.
In the midday trading, the Dow Jones Industrial Average jumped
52.59 to 11,263.64. The Standard & Poor's 500 index rose 4.73 to
1,277.61 and the Nasdaq composite index advanced 9.81 to 2,208.05.
The Commerce Department reported on Friday that consumer spending
grew in April at the 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 incomes ...