Stocks advanced on Thursday, following the manufacturing activity reached the highest level in almost four years, while Facebook and Tesla propelled their shares to record highs.
Major indexes swerved between little gains and losses in early trading but were certainly in the black after noon and did not look back. The S&P 500 finished less than 0.5% below 1,848.38 record last month.
US factory activity advanced at its quickest pace in almost four years in February, based on Markit’s preliminary US Manufacturing Purchasing Managers Index, a bullish economic indicator monitoring a range of weaker-than-anticipated reports. Unemployment insurance new claims dropped in the latest week, favoring the job market, but the Philadelphia Fed’s benchmark of manufacturing activity narrowed in February.
The stock market has dismissed warm data, pointing recent weakness on the effect of severely cold weather and massive snow rather than descending fundamentals. The Dow Jones industrial average proliferated 92.67 points or 0.58%, at 16,133.23. The S&P 500 profited 11.03 points or 0.60%, at 1,839.78. The Nasdaq Composite gained 29.591 points or 0.7%, at 4,267.545.
Social networking giant Facebook said on Wednesday it would purchase mobile-messaging start-up WhatsApp for $16 billion in cash and stock, plus $3 billion worth of limited stock units to WhatsApp’s makers. Facebook stocks primarily sank on the news, but closed at 2.3% at $69.63 after touching $70.11 record high.
Tesla shares moved to 8.4% to $209.97 following an $215.21 intraday record. The electric car maker listed 4th quarter results that beat outlooks on Wednesday following the closing bell and noted deliveries of its luxury sedan would increase more than 55% this year.
The market shrugged off escalating political tensions and violence from Caracas to Kiev, although worries may boost next week as earnings go down and the data calendar trims further. DirecTV shares profited 2.9% to $75.08, diving from a record high of $75.50 earlier in the session, after the biggest US satellite TV company reported 4th quarter results above analysts’ postulations and authorized a $3.5 billion stock-buyback program.
However, Wal-Mart Stores Inc plunged 1.8% to $73.52 after the world’s largest retailer reported a decrease in US same-store sales and posted an earnings outlook below anticipations. Surging issues outnumbered diminishing ones on the New York Stock Exchange by a ratio of slenderly less than 2 to 1. On the Nasdaq, some 12 stocks gained for every five that plummeted.
The material has been provided by InstaForex Company – www.instaforex.com
Stocks advanced on Thursday, following the manufacturing activity reached the highest level in almost four years, while Facebook and Tesla propelled their shares to record highs.
Major indexes swerved between little gains and losses in early trading but were certainly in the black after noon and did not look back. The S&P 500 finished less than 0.5% below 1,848.38 record last month.
US factory activity advanced at its quickest pace in almost four years in February, based on Markit’s preliminary US Manufacturing Purchasing Managers Index, a bullish economic indicator monitoring a range of weaker-than-anticipated reports. Unemployment insurance new claims dropped in the latest week, favoring the job market, but the Philadelphia Fed’s benchmark of manufacturing activity narrowed in February.
The stock market has dismissed warm data, pointing recent weakness on the effect of severely cold weather and massive snow rather than descending fundamentals. The Dow Jones industrial average proliferated 92.67 points or 0.58%, at 16,133.23. The S&P 500 profited 11.03 points or 0.60%, at 1,839.78. The Nasdaq Composite gained 29.591 points or 0.7%, at 4,267.545.
Social networking giant Facebook said on Wednesday it would purchase mobile-messaging start-up WhatsApp for $16 billion in cash and stock, plus $3 billion worth of limited stock units to WhatsApp’s makers. Facebook stocks primarily sank on the news, but closed at 2.3% at $69.63 after touching $70.11 record high.
Tesla shares moved to 8.4% to $209.97 following an $215.21 intraday record. The electric car maker listed 4th quarter results that beat outlooks on Wednesday following the closing bell and noted deliveries of its luxury sedan would increase more than 55% this year.
The market shrugged off escalating political tensions and violence from Caracas to Kiev, although worries may boost next week as earnings go down and the data calendar trims further. DirecTV shares profited 2.9% to $75.08, diving from a record high of $75.50 earlier in the session, after the biggest US satellite TV company reported 4th quarter results above analysts’ postulations and authorized a $3.5 billion stock-buyback program.
However, Wal-Mart Stores Inc plunged 1.8% to $73.52 after the world’s largest retailer reported a decrease in US same-store sales and posted an earnings outlook below anticipations. Surging issues outnumbered diminishing ones on the New York Stock Exchange by a ratio of slenderly less than 2 to 1. On the Nasdaq, some 12 stocks gained for every five that plummeted.
The material has been provided by InstaForex Company – www.instaforex.com
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