Stocks power ahead on resilient economic data

|By:, SA News Editor

The three major U.S. stock average advance as durable orders and construction spending reflect a resilient U.S. economy and inflation remains tame.

Nasdaq gains 0.9%, S&P +0.9%, and the Dow +0.7%.

Health care (+1.3%) and information technology (+1.1%) lead the S&P sectors, while utilities (+0.2%) and communication services (+0.3%) lag the overall market gains.

Among other movers: CVS (+3.8%) , UnitedHealth (+2.6%), Nvidia (+4.3%), Adobe Systems (+2.3%), AT&T (-1.0%), Home Depot (-0.6%).

Crude oil +1.8% to $57.89 per barrel.

10-year Treasury slips, pushing yield up 1 basis point to 2.62%.

Dollar Index weakens 0.3% to 96.68.

British pound gains 1.2% against the greenback after the U.K. government announces tariff cuts and before U.K. Parliament votes on whether to leave without a deal in place.

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