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#1
07-25-2008, 08:31 AM
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Stocks jump after rise in durable goods
Stocks jump after rise in durable goods
Friday July 25, 8:42 am ET NEW YORK (Reuters) - Stocks jumped on Friday following a government report that showed new orders of durable goods rose unexpectedly in June, calming worries about the profit outlook and the economy. S&P 500 futures rose 5.60 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures climbed 44 points and Nasdaq 100 gained 12 points. Before the data, stock index futures had been little changed. (Reporting by Ellis Mnyandu; Editing by Kenneth Barry)
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