Stocks rose Thursday on Wall Street as a string
of positive earnings reports overcame a weak showing of a key measure
of economic indicators.
The Conference Board's index of U.S. leading economic indicators
declined in June after a gain in May, reflecting a slow recovery.
Earnings and positive forecasts at technology companies, led by
IBM and online auction site eBay, drove the rally.
The blue-chip Dow Jones Industrial Average added 34.66 points, or
0.27 per cent, to 12,943.36. The broader Standard & Poor's 500 Index
rose 3.73 points, or 0.27 per cent, to 1,376.51. The technology-heavy
Nasdaq Composite Index was up 23.3 points, or 0.79 per cent, to
2,965.9.
The U.S. currency was flat against the euro at 81.43 euro cents. The
dollar slipped against the Japanese currency to 78.59 yen from 78.78
yen on Wednesday.
