January 04, 2011 / 08:24 IST
In the US markets, stocks ended up nearly a percent or more as investors flocked to stocks, pushing the market to new two-year highs on the first trading day of the year. The S&P 500 closed at its highest levels since September.
Dow Jones Industrial Average gained 0.81% or 93.24 points at 11670.75. Nasdaq Composite rose 1.46% or 38.65 points at 2691.52. Standard & Poor's 500 added 1.13% or 14.25 points at 1271.89.In economic data, solid data seemed to uphold this session's buying effort. Construction spending for November has increased by 0.4%, which exceeded consensus call for a 0.2% increase.The ISM manufacturing index for December improved to 57.0 from 56.6, but the latest reading was still slightly below the 57.3 that had been expected.In the currency space- the dollar advanced against several key currencies and the dollar index climbed as much as 0.7% in early New York trade before it slipped 0.3% at close of trade. It is currently steady in Asia trade.In commodities - oil prices rose to a 27-month peak as upbeat European and US manufacturing data and forecasts for cold weather reinforced optimism about economic and energy demand growth. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
