US STOCKS-Wall Street climbs after data, Dudley remarks

Thu Jun 27, 2013 10:43am EDT
 
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* Initial claims dip, personal income and spending climb

* Market lauds remarks by Fed's Dudley; Lockhart to speak

* ConAgra jumps after raising its outlook

* Indexes up: Dow 1.08 pct, S&P 1.03 pct, Nasdaq 1.01 pct

By Chuck Mikolajczak

NEW YORK, June 27 (Reuters) - U.S. stocks climbed on Thursday, putting the S&P 500 on track for a third straight day of gains, after data showed a decline in weekly jobless claims while consumer spending and incomes improved.

Investors were heartened also after William Dudley, head of the New York Federal Reserve, said the Fed's asset purchases would be more aggressive than the timeline Chairman Ben Bernanke outlined last week if U.S. economic growth and the labor market turn out weaker than expected.

Initial claims for state unemployment benefits dropped 9,000 in the week ended June 22 to a seasonally adjusted 346,000.

Consumer spending increased 0.3 percent last month after a revised 0.3 percent drop in April while incomes grew 0.5 percent, the largest gain since February.   Continued...