Wall Street lifts on housing data


Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

US stocks have opened higher following strong housing construction data and a solid earnings report from retailer Home Depot.

Housing starts leaped 15. 7 per cent in July to an annual rate of 1. 093 million, while building permits rose 8. 1 per cent to a rate of 1. 052 million.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Dow component Home Depot rose 4. 1 per cent after second-quarter earnings were $US1. 52 per share, seven cents above analyst expectations.

The broad-based S&P 500 gained 4. 55 points, or 0. 23 per cent, to 1,976. 29, while the tech-rich Nasdaq Composite Index rose 7. 50 points, or 0. 17 per cent, to 4,515. 82.

Five minutes into trade on Tuesday, the Dow Jones Industrial Average advanced 44. 89 points, or 0. 27 per cent, to 16,883. 63.

Read more here: Business Spectator


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