US equities closed higher on strong PMI data

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Source: Dukascopy Bank SA
US stocks closed higher ahead of Thanksgiving day on mixed data from domestic economy. US flash PMI rose more than expected in November, while UoM consumer sentiment was revised down. Meanwhile, the number of jobless claims in the US declined to 410,000, in line with market consensus. At the same time, the US stock index came under heavy pressure after the Eurogroup meeting ended without decision on the Greek bailout. The S&P 500 Index added 0.23% to close at 1,391.03. All but one sector included in the index rose. The top-performers were oil and gas as well as telecommunication sectors. Anadarko Petroleum and Cabot Oil & Gas climbed 0.86% and 0.43% as crude oil prices soared after the EIA inventory report. Meanwhile, Salesforce.com surged 8.83% after announcing Q4 revenues and profit forecast that matched the market expectations. On the downside, Best Buy shed 3.26% as Fitch Ratings downgraded the firm's rating to BB- from BB+ with negating outlook. Deere & Co sank 3.67% after posting disappointing quarterly results.
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Thu, 22 Nov 2012 12:19:59 GMT

Dow climbed ahead of Thanksgiving day

Dow moved higher on Wednesday on mixed signals from the national economy. US preliminary PMI data showed that manufacturing activity expanded more than expected this month. However, positive numbers were partly offset by a downward revision on the UoM consumer sentiment index. Capping gains of the US blue chips index, the eurozone's finance ministers again failed to agree on the

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