In U.S. economic news, a decrease in new home sales for the third month in a row disappointed economists.
New-home sales fell by 0.7% in June
compared to a forecasted 0.6% decline. The housing industry is expected to remain a drag on the economy.
Global manufacturing data helped to lift oil prices
. The October crude oil contract gained $1.02 to settle at $85.44 a barrel. Gold was declining after hitting a record high of $1,917.60 an ounce as the equities rally gained momentum. The December delivery contract lost $30 to $1,858 an ounce.
Deven Sharma, president of
Standard & Poor's,
will leave the company and be replaced by Douglas Peterson
. Peterson, who will join the company Sept. 12, is currently chief operating officer of Citibank N.A., the chief banking unit of
Sharma's resignation follows the rating agency's much-criticized decision to downgrade the U.S. credit rating to AA+ from AAA. McGraw-Hill's stock moved up 4.5% to 38.69.
plans to order 100
737 single-aisle jets in a deal valued at more than $8 billion
, according to a
Wall Street Journal
report. Boeing's stock gained 4% to $60.77.
better-than-expected first-quarter adjusted earnings on growth across emerging markets
. The company expects second-quarter earnings to meet or come in slightly above its year-ago profit, but lowered its fiscal 2012 adjusted earnings guidance. The stock lost 1.2% to $51.44.
climbed 5.2% to $13.88 following news that the
Swiss bank plans to cut 3,500 jobs in an effort to eliminate expenses
of 2 billion Swiss francs ($2.54 billion) a year by the end of 2013.
The benchmark 10-year Treasury was down 2/32, lifting the yield to 2.118%. The dollar weakened against a basket of currencies, with the dollar index down by 0.4%.
-- Written by Chao Deng in New York