Washington - Wall Street rallied Thursday as strong exports fueled a sharp upward revision in the government's estimated of second-quarter economic growth. The broad rally saw five listings gaining value for every stock that lost on the New York Stock Exchange. Nine of the 10 industry groups within the Standard & Poor's 500 Index rose in Thursday trading.
The Commerce Department, revising its initial estimate of 1.9 per cent, announced Thursday that the US gross domestic product expanded in the April-June period at an annualized rate of 3.3 per cent.
The blue-chip Dow Jones Industrial Average soared 212.67 points, or 1.85 per cent, to 11,715.18. The broad-based Standard & Poor's 500 Index leapt 19.02 points, or 1.48 per cent, to 1,300.68. The technology-heavy Nasdaq Composite Index jumped 29.18 points, or 1.22 per cent, to 2,411.64.
The US currency rose to 68.046 euro cents from 67.85 euro cents on Wednesday. The dollar edged up against the Japanese currency to 109.49 yen from 109.45 yen on Wednesday.
Gold rose to 837.20 dollars on Thursday from 834 dollars per fine ounce on Wednesday.
