Published on Tue, Nov 03, 2009 at 07:54 | Source : Moneycontrol.com
Updated at Tue, Nov 03, 2009 at 08:15
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Wall Street ends higher; Dow up 76 points
A late rally on Wall Street helped the Dow finish in positive territory on Monday. Earlier the Dow was up more than 140 points led by a report, which showed manufacturing expanded more than expected last month.
A late rally on Wall Street helped the Dow finish in positive territory on Monday. Earlier the Dow was up more than 140 points led by a report, which showed manufacturing expanded more than expected last month. Also Read - How ADRs performed
The Dow gained 76.71 points, or 0.8%, to 9,789.44. The S&P 500 index added 6.69 points, or 0.7%, to 1,042.88, and the Nasdaq Composite index rose 4.09 points, or 0.2%, to 2,049.20.
In economic news from the US, the ISM reported its gauge of manufacturing activity at 55.7 in October, the third straight month of growth and the highest reading since April 2006.
Among the other economic data, pending-home sales rose to their highest level in nearly three years in September, boosted by the first-time homebuyer's tax credit. Also construction spending rose 0.8% in the month of September.
Oil prices rose more than a percent to trade above USD 78 after strong US manufacturing data.
The dollar and yen declined versus the euro before this week's Federal Reserve meeting as economic reports showing expansion in US housing and manufacturing increased demand for higher-yielding assets.
