• Growing people

    What is the most powerful way to develop the capabilities of people at work? Ian Mann answers.

  • Wealth and poverty

    True riches would be to create a safe and satisfied community for all South Africans.

  • SABC shenanigans

    SA has already embarked on a slippery slope to autocracy, warns Terry Bell in Inside Labour.

All data is delayed
Loading...
See More

Manufacturing data boost US stocks

May 02 2012 07:28
AFP

New York - A better-than-expected read on US manufacturing in April and encouraging construction data drove Wall Street shares higher on Tuesday as traders shrugged off some poor earnings reports.

The Dow Jones Industrial Average was up 65.92 points, at 13,279.55 at the closing bell.

The broad-based S&P 500 index gained 7.97 to 1,405.88, while the tech-heavy Nasdaq gained 4.08 to 3,050.44.

The market got its charge from the Institute for Supply Management's manufacturing index, which registered a solid jump for April, rising to 54.8% from 53.4% in March. Analysts had expected a fall.

In addition, a reading on construction spending in March also held positive signs - it showed strength in private-sector building even though the overall data was being held back by government spending cutbacks.

"It's a relief to see some better US economic data, particularly after the spate of negative news lately," said Jennifer Lee at BMO Capital Markets.

manufacturing data  |  wall street  |  markets  |  us economy

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE SAVINGS ISSUE

Saving can make a lot of things possible, but we all know how hard it is to save. This special Savings Issue will help you get focused.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Have you experienced FNB’s outage problem?

Previous results · Suggest a vote

Loading...