{"id":45531,"date":"2013-06-27T11:40:00","date_gmt":"2013-06-27T11:40:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-rally-after-economic-data\/45527\/"},"modified":"2024-08-25T18:09:19","modified_gmt":"2024-08-25T18:09:19","slug":"stocks-rally-after-economic-data","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stocks-rally-after-economic-data\/45531\/","title":{"rendered":"Stocks Rally after Economic Data"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>U.S. stocks rallied across-the-board by mid-day trade on Thursday as the sentiment was bolstered by dovish comments from a top Fed official while a series of strong economic data releases also increased investors\u2019 risk appetite.<\/p>\n<p><span id=\"more-45531\"><\/span><\/p>\n<p>At last check, the DJIA climbed 0.83%; the <a href=\"https:\/\/thestockmarketwatch.com\/markets\/nasdaq\/today.aspx\">NASDAQ<\/a> Composite Index jumped 0.82% while the <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> Index gained 0.75%.<\/p>\n<p>Delivering a speech over region\u2019s economic growth and the labor market, the New York <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> President William Dudley said on Thursday that the central bank will resort to more aggressive economic stimulating measures than the timeline set by its Chairman Bernanke,\u00a0 should the economic growth and labor market falter.<\/p>\n<p>According to the National Association of Realtors, pending home sales rose 6% in May to a six year high level.<\/p>\n<p>The weekly first-time jobless claims fell 9,000 to seasonally adjusted 346,000 for the week ended June 22, said the Labor Department. Economists surveyed by Reuters expected initial claims at 345,000.<\/p>\n<p>The Commerce Department said that personal income rose 0.5% in May, beating analysts\u2019 forecast for 0.2% increase. In the same period, consumer spending increased 0.3%, in-line with economists\u2019 forecast.<\/p>\n<p>Shares of Progress Software Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=PRGS\" target=\"_blank\" rel=\"noopener\">NASDAQ: PRGS<\/a>) climbed about 5% by midday trade after the business software maker, late last evening said that it swung into fiscal second quarter profit, driven by higher revenue from software licensing.<\/p>\n<p>Shares of KB Home (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=KBH\" target=\"_blank\" rel=\"noopener\">NYSE: KBH<\/a>) climbed about 3% by midday trade after the homebuilder said that its fiscal second quarter loss narrowed, thanks to rising average selling prices and home deliveries amid significantly improving U.S. housing market.<\/p>\n<p>Sports gear maker, Nike Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=NKE\" target=\"_blank\" rel=\"noopener\">NYSE: NKE<\/a>) and IT consulting firm, Accenture Plc (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=ACN\" target=\"_blank\" rel=\"noopener\">NYSE: ACN<\/a>) are slated to report quarterly results after the closing bell.<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20130629042015\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.4\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fstocks-rally-after-economic-data-2%2F45531&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n<script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130629042015js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> \n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-on-a-mixed-note-on-last-trading-day-of-june-and-q2\/45579\">\nStocks End on a Mixed Note on Last Trading Day of June and Q2<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-but-log-24-quarterly-loss-silver-prices-rally\/45571\">\nGold Prices Settle Higher but Log 24% Quarterly Loss; Silver Prices Rally<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-sway-mildly-on-last-trading-day-of-the-month-and-quarter\/45569\">\nStocks Sway Mildly on Last Trading day of the Month and Quarter<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-fall-in-early-trade-3\/45562\">\nStocks Fall in Early Trade<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/sec-completes-its-investigation-on-molycorp-finds-disclosures-accurate-mcp\/45561\">\nSEC Completes its Investigation on MolyCorp, Finds Disclosures Accurate (MCP)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/nike-beats-q4-estimates-nke\/45559\">\nNike Beats Q4 Estimates (NKE)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-gains-against-the-yen\/45554\">\nForex Market Update: Dollar Gains against the Yen<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130629042015im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n\n<!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script-->\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stocks rallied across-the-board by mid-day trade on Thursday as the sentiment was bolstered by dovish comments from a top [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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