US stocks closed modestly higher, yesterday, led by gains in financial and energy companies. The latest gains came as the price of oil recovered from an early slide and gave the stock market its third higher close in three days. So the Dow Jones industrial average gained 43 points, or 0.2 percent, to 18,096. The Standard & Poor's 500 index rose just 2 points, or 0.1 percent, to 2,102. And the Nasdaq Composite index added 8 points, or 0.2 percent, to 4,948. In economic data, US home resales rebounded more than expected in March, suggesting that the housing market recovery remained intact despite signs that economic growth probably stalled in the first quarter. The National Association of Realtors said existing home sales surged 5.1 percent, beating economists' expectations for a 3.5 percent increase.
News On AIR | April 21, 2016 1:31 PM
US stocks close modestly higher as oil price recovers