US STOCKS-Wall St edges up after upbeat U.S. data, Intel outlook

jueves 20 de noviembre de 2014 15:19 GYT
 

* Intel shares up after upbeat outlook

* GoPro falls after pricing follow-on shares at discount

* Indexes: Dow up 0.1 pct, S&P up 0.2 pct, Nasdaq up 0.5 pct (Updates to afternoon)

By Caroline Valetkevitch

NEW YORK, Nov 20 (Reuters) - U.S. stocks edged higher on Thursday afternoon as data showed further strength in the U.S. economy and Intel INTC.O> gave an upbeat forecast.

Tech shares helped to lead the day's gains after Intel's revenue outlook for 2015 was above Wall Street's expectations and the company also raised its dividend. Intel shares climbed 3.8 percent to $35.65, giving a boost to all three major indexes.

Factory activity in the U.S. mid-Atlantic region grew at its fastest pace in two decades, U.S. home resales jumped to their highest in more than a year in October, and a gauge of future U.S. economic activity gained.

Growth in the economy and earnings should bode well for stocks heading into next year, said Margaret Patel, senior portfolio manager at Wells Capital Management.

"Next year will be a reasonable to maybe a surprisingly good year," she said. "(There is) no reason in the world why we can't see P/Es expand." Patel, who spoke at Reuters Global Investment Outlook Summit Thursday, said stocks could rise by a mid single-digit to high-teens percentage next year.   Continuación...