Markets Climb on Hope of Increased Home Sales and Economic Growth
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tarabird/iStock/Thinkstock(NEW YORK) — Wednesday brought small gains on Wall Street amidst economic growth news from the Federal Reserve and hope for increased home sales.
The Dow Jones Industrial Average closed at 18,112.41, up 75.71 from its open.
The Nasdaq climbed 33.73 to close back over the 5,000 mark at 5,011.02. Meanwhile, the S&P 500 gained 10.75, finishing the session at 2,106.59.
American homebuilders expect sales to increase in the coming months. The National Association of Home Builders reported Wednesday that low interest rates and job growth will push sales higher.
The Federal Reserve’s latest Beige Book, including information collected from the various districts, was released Wednesday. According to the report, most districts saw moderate economic growth, while a number of others either experienced modest growth or remained steady.
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