The Dow Jones Industrial Average finished 143.08 points higher, or 1.30%, to 11153.98 in a volatile session that saw the blue-chip index turn negative mid session, after surging more than 200 points in the morning. The blue-chip index jumped again in the final 45 minutes of trading.
The Standard & Poor's 500-stock index, as quoted by Wall Street Journal, added 9.34 points, or 0.81%, to 1160.40. The technology-oriented Nasdaq Composite lagged, falling 10.82 points, or 0.43%, to 2480.76.
Two economic data points helped set a positive tone for the session. The number of idled U.S. workers filing new claims for unemployment benefits fell sharply last week, according to the Labor Department, although the surprise improvement in the U.S. employment picture may have been driven by seasonal adjustments.
In a second report, gross domestic product, the broadest measure of all the goods and services produced in an economy, grew at an inflation-adjusted annual rate of 1.3% from April to June, the Commerce Department said.
How about Indonesia market today? Here are stock recommendations provided by several brokerages as quoted by Bisnis Indonesia.
Jakarta Composite Index (JCI) may continue its gain, but it may reflect a lower trading volume. The gain is still limited. Today, the index may move within the range of 3,435-3,620 with several stocks to watch: BMRI, BUMI, and INDF.
The brokerage estimates that banking, cement, and consumer stocks are still attractive for the short term trading. The JCI is estimated to move within a support-resistance level at 3,490-3,570.
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