U.S. Shares Inch Higher Ahead of Health-care Bill Vote, Boosted by Upbeat Durable Goods Orders

Mar, 24th 16:23

U.S. shares rose on Friday with all three stock benchmarks advancing as investors were awaiting a vote on a closely watched health-care bill while new orders for durable goods climbed faster than expected.

The S&P 500 index added 0.36% with seven out of 11 sectors making up the benchmark trading higher. While information technology stocks were leading the gains, up 0.6%, shares of companies in materials and consumer Staples lost 0.13% each.

Commerce Department reported orders for U.S. durable goods increased 1.7 percent after a 2.3 percent advance the prior month that was larger than previously estimated. While durable goods jumped for the second straight month, the so-called core durable goods orders which strip out transportation equipment increased 0.4 percent.

Voting on amended Trump’s health-care legislation that would replace the Affordable Care Act, widely known as Obamacare, is scheduled for late-afternoon Friday.

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U.S. Shares Inch Higher Ahead of Health-care Bill Vote, Boosted by Upbeat Durable Goods Orders