US blue chips climbed after positive PMI reading

Note: This section contains information in English only.
Source: Dukascopy Bank SA

US blue chips climbed on Monday amid positive manufacturing activity data from the national economy. The Institute of Supply Management reported that its manufacturing PMI climbed to 51.5 in August compared to 49.7 in the preceding month. A reading above 50 indicates expansion of the manufacturing sector. Rising optimism over Spanish bailout also contributed to the US blue chips' rally. The Dow Jones Industrial Average Index gained 0.58% to close at 13,515.11. All nine sectors within the index rose. The top-performers were financials and technology firms. Bank of America and American Express climbed 1.47% and 1.53% while Intel and Hewlett-Packard added 0.35% and 0.88%. Meanwhile, oil and gas sector also advanced on brighter energy demand prospects amid better manufacturing activity. Chevron and Exon Mobil inched up 0.59% and 0.38%.

 

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