Economic Data Boosts Leads to Stock Gains

    February 24, 2005

Economic data from the government has boosted stock market optimism and caused stocks to gain.

The Dow Jones industrial average went up 62.59 to 10,673.79, after going down 174.

“People were really looking for a reason to buy. … Judging by conversations with our clients, people were looking to re-engage,” said Piper Jaffray market strategist Brian Belski. “If we’d had a stronger semblance of inflation, this thing could’ve really come uncoupled today.”

According to a Seattle Times article,

“Microsoft, one of the 30 Dow stocks, slipped 3 cents to close at $25.20 a share. Boeing, also a Dow stock, gained 57 cents to $52.72.

The broader gauges were also higher. The Standard & Poor’s 500 index gained 6.64 to 1,190.80. The Nasdaq composite index was up 0.93 at 2,031.25.”

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