At closing bell, the Dow Jones Industrial Average index advanced by 358.52 points, or 1.34%, to 27,173.96. The S&P 500 index added 51.87 points, or 1.6%, to 3,298.46. The tech-heavy Nasdaq Composite Index rose 241.29 points, or 2.26%, to 10,913.56. For the week, the Nasdaq climbed by 1.1%, while the Dow tumbled by 1.7% and the S&P 500 fell by 0.6%.
Most sectors in the S&P 500 index were higher, led by gains in the technology and healthcare sector. Energy bucked the trend.
Data from the Commerce Department on Friday showed new orders for key U.S.-made capital goods increased more than expected in August and demand for the prior month was stronger than previously estimated, suggesting a rebound in business spending on equipment was underway after a prolonged slump. US Durable Goods Order rose 0.4% in August after jumping 11.7% in July. Durable goods orders were supported by a 0.5% rise in orders for transportation equipment. Orders for non-defense capital goods excluding aircraft, rose 1.8% last month, according to the Commerce Department. Data for July was revised up to show that core capital goods orders rose 2.5% instead of 1.9% as previously estimated.
Among Indian ADR, Wipro added 3.05% to $4.73, INFOSYS added 3.98% to $13.57, HDFC Bank added 2.08% to $48.63, ICICI Bank was up 3.23% to $9.60, and Dr Reddys Labs inclined 2.72% to $69.60. WNS Holdings rose 4.58% to $63.29, Azure Power Global inclined 8.54% to $30.58, Tata Motors added 2.61% to $8.65, and Vedanta added 5.11% to $7.41.
Powered by Capital Market - Live News