U.S. stocks accelerate higher as Nasdaq jumps nearly 200 points
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Following optimistic economic data and an increase in US bond yields, stocks in the United States surged higher on Friday.
After a 16.2% drop in February, new home sales soared 20.7 percent to a seasonally adjusted 1.02 million in March, according to the US Department of Commerce.
Technology stocks led the charge with the Nasdaq Composite soaring more than 200 points before settling back, to close at 14,016.81, for a gain of 198.39 points or 1.44 percent.
The Dow Jones industrials index advanced 227.59 points or 0.67 percent to 34,043.49.
The Standard and Poor's 500 rose 45.19 points or 1.09 percent to 4,180.17.
Despite rising bond yields in the United States, the dollar has lost ground. By Friday's close in New York, the euro had risen to 1.2096. The value of the British pound has risen to 1.3886. At 0.9130, the Swiss franc was sharply higher. The Japanese yen maintained gains made in Asia, finishing at around 107.92.
The value of the Canadian dollar increased to 1.2466. The Australian dollar rose to 0.7758 US cents. The value of the New Zealand dollar increased to 0.7201.
Overseas, in London, the FTSE 100 was virtually unchanged, rising just 0.32 of a single point to 6,938.56.
German stocks edged down on Friday, with the benchmark DAX index down 40.90 points, or 0.27 percent, to close at 15,279.62 points, Xinhua reported.
Housing association Deutsche Wohnen lost 2.34 percent, the top loser among the blue chips, followed by multinational chemical and pharmaceutical company Bayer and sportswear and equipment maker Adidas, which lost 2.08 percent and 1.55 percent respectively.
Semiconductor manufacturer Infineon Technologies gained 2.05 percent, becoming the top gainer. Automotive supplier Continental and European multinational online food-delivery service Delivery Hero advanced 1.75 percent and 1.40 percent respectively.
Multinational software corporation SAP was the most traded share with a turnover of 353.56 million euros (426.61 million U.S. dollars), the Xinhua report said.
The benchmark Paris CAC 40 dropped 0.15 percent, or 9.34 points, to close at 6,257.94. Of the 40 selected large companies, fifteen ended down.
According to Xinhiua, Danone, a French international food company, fell 1.41 percent. Sanofi, a multinational pharmaceutical firm, fell 1.40 percent, while Airbus, a multinational aerospace company based in Europe, fell 1.25 percent.
ArcelorMittal SA, a multinational steel manufacturer, gained 2.87 percent. Vivendi SA, a French media giant, gained 2.76 percent, while Publicis Groupe, a global advertising and public relations firm, gained 1.97 percent.
On Asian markets, in Tokyo, the Nikkei 225 declined 167.54 points or 0.57 percent to 29,020.63 while the Australian All Ordinaries edged up 8.70 points or 0.12 percent to 7,320.70.
In Hong Kong, the Hang Seng, jumped 323.41 points or 1.12 percent to 29,078.75. China's Shanghai Composite added 9.05 points or 0.26 percent to 3,474.17.
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