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Global Stocks: equities report modest gains
U.S. stocks gained amid May data on sales of new single-family homes, which showed that new homes were sold at an annual rate of 546,000. This is the fastest pace since February 2008. April numbers were revised up. However orders for durable U.S. goods fell by a seasonally adjusted 1.8% in May, mostly because of a 35.3% drop in nondefense aircraft & parts orders.
The Dow Jones industrial average rose by 24.29 points, or 0.13%, to 18,144.07. The Standard & Poor's 500 rose by 1.35 points, or 0.06%, to 2,124.20. The Nasdaq Composite gained 6.12 points, or 0.12%, to close at 5,160.09 (the second consecutive session of closing at record).
In Asia Hong Kong Hang Seng rose by 0.08%, or 21.18 points, to 27,354.64. China Shanghai Composite Index advanced by 0.08%, or 3.76 points, to 4,580.25. Meanwhile the Nikkei rose by 0.51%, or 105.90 points, to 20,915.32.
Asian stocks advanced following modest gains in U.S. equity markets. Investors were also optimistic that Greece would find understanding with its lenders and a deal would be reached.
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