Dow went up on upbeat data

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Source: Dukascopy Bank SA
US blue chips jumped on Friday on upbeat US data. Despite being slightly worse than expected, US manufacturing PMI and labour market data signalled US economy is improving. Meanwhile, the Fed's decision to leave its loose monetary policy continued to lend support to riskier assets. The Dow Jones Industrial Average Index soared 1.08% to close above 14,000 at 14,009.79. All but one industry advanced. The top-gainers were telecommunications and financials. Verizon Communications and AT&T moved up 2.59% and 2.07%, while Bank of America and JPMorgan Chase & Co jumped 3.42% and 1.70%. Among other gainers, Chevron climbed 1.17% after reporting better-than-expected Q4 earnings. Exxon Mobil Corp. also announced upbeat results on Friday. However, Exxon Mobil Corp. added only 0.08% as the company also reported a fall in production. At the same time, Merck & Co Inc. sagged 3.28% after saying its earnings declined 7.3% in Q4.
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Mon, 04 Feb 2013 17:06:46 GMT

British construction PMI held at December's 6-month low

Construction output in the U.K. missed economists' projections, as declined again in the month of January, recording the lowest figure since June 2012, the Markit survey showed on Monday. The Markit/CIPS Construction Purchasing Managers' Index stayed unchanged in January from the month before, when it slipped to a six-month low at 48.7 compared to forecast of 49.1."January's survey results are

Mon, 04 Feb 2013 17:17:04 GMT

US stocks ended higher on Friday

US equities ended the week in the positive territory amid encouraging economic data releases. US UoM consumer sentiment was revised up to 73.8 in January compared with the December's figure of 71.4. At the same time, US final PMI showed expansion of the manufacturing activity despite being slightly below estimates. The S&P 500 Index rallied 1.01% to close at 1,513.17.

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