U.S. stocks advanced but the gains were subdued as investors awaited the Labor Department’s employment report on Friday. Trading was choppy throughout the session and stocks swung between gains and losses as traders held their positions. Pending home sales rose for the fifth moth in a row, signaling some stabilization on the housing front and the overall economy.
The Dow Jones industrial average added 33 points, or 0.4%, to jump to its highest level since November 4; the S&P 500 index gained 3 points, or 0.3% and the tech-heavy Nasdaq composite edged up 3 points, or 0.1%, ending at its highest point since October 1. Both the NASDAQ and S&P500 are holding above key technical levels, maintaining their perches above 2000 and 1000, respectively.
Shares in Caterpillar Inc (NYSE:CAT) surged 6.1% after the firm noted at an analysts’ forum that cost cutting efforts and other initiatives will help it
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