U.S. stocks rise due to positive manufacturing data
October 1, 2013
Today – Tuesday October 1st, 2013
- U.S. stocks rose today after positive data from manufacturing index, in the latest economic data, the Institute for Supply Management’s manufacturing index came in at 56.2. It was expected to be at 55, thus beating expectations, which means the economy is expanding.
- Another reason U.S. stocks rose today is because investors expect the government shutdown to be short-lived, and the House GOP will soon come to an solution with the Senate Democrats.
- The Dow Jones industrial average (^DJI) was up 62.03 points, or 0.41 percent, at 15,191.70. The Standard & Poor’s 500 Index (^GSPC) was up 13.45 points, or 0.80 percent, at 1,695.00. The Nasdaq Composite Index (^IXIC) was up 46.50 points, or 1.23 percent, at 3,817.98.
- The report on private sector hiring in September by payrolls processor Automatic Data Processing will be released on Wednesday at 8:15 a.m. (1215). Weekly initial jobless claims data due on Thursday will also be released as scheduled.