US stocks end higher, led by defensive shares

19 Nov 2022 , 09:00 AM

The Dow Jones Industrial Average rose 199.37 points, or 0.59%, to 33,745.69, the S&P 500 gained 18.78 points, or 0.48%, to 3,965.34 and the Nasdaq Composite added 1.11 points, or 0.01%, to 11,146.06. Federal Reserve Bank of Boston leader Susan Collins said that, with little evidence price pressures are waning, the Fed may need to deliver another 75-basis point rate hike as it seeks to get inflation under control. In U.S. economic data, the National Association of Realtors said Friday that existing-home sales fell 5.9% in October, slumping for a ninth straight month. Thats down 28.4% from a year earlier. Meanwhile, the U.S. leading economic index fell 0.8% in October, an eighth straight monthly decline, according to a Conference Board report Friday. Powered by Capital Market – Live News