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20 Feb 2014
US stocks posted solid gains amid eco-data
FXStreet (San Francisco) - Wall Street closed Thursday with gains as investors digested a mix set of economic data but stronger than expected PMI manufacturing number in February.
Inflation remained below 2% Fed target after showing a 1.6% YoY figures in January; jobless claims came 336K, nearly expectations of 335K; the CB leading indicator advanced 0.3% in January and despite it was below 0.4% expected it meant to be a rise from the two month unchanged index.
Philadelphia Fed Manufacturing index declined to -6.3 from 9.4, well bellow expectations of 8.0. However the market got life with an upbeat PMI manufacturing index which posted an advance to 56.7 in February from 53.7 in the previous month and specially it was against market consensus of a decline for this data.
The Dow Jones recovered yesterday loses and after advancing 92.67 points or 0.58% the DJIA closed at 16,133.23; the S&P 500 finished the day at 1,839.78 following a win of 11.03 points. The Nasdaq added 29.59 points or 0.70% to end the day at 4,267.54.
Inflation remained below 2% Fed target after showing a 1.6% YoY figures in January; jobless claims came 336K, nearly expectations of 335K; the CB leading indicator advanced 0.3% in January and despite it was below 0.4% expected it meant to be a rise from the two month unchanged index.
Philadelphia Fed Manufacturing index declined to -6.3 from 9.4, well bellow expectations of 8.0. However the market got life with an upbeat PMI manufacturing index which posted an advance to 56.7 in February from 53.7 in the previous month and specially it was against market consensus of a decline for this data.
The Dow Jones recovered yesterday loses and after advancing 92.67 points or 0.58% the DJIA closed at 16,133.23; the S&P 500 finished the day at 1,839.78 following a win of 11.03 points. The Nasdaq added 29.59 points or 0.70% to end the day at 4,267.54.