Dow Jones struck in Early 2010
NEW YORK – The Dow Jones started the New Year 2010 with a sharp jump 155 points in trading Monday, January 4 local time.
The trigger was the U.S. manufacturing data (U.S.) December period grew rapidly last year, outside the expectations of analysts.
Initially, the index was trading had fluctuated in early this year. But the three indexes on Wall Street continued the rally from last year, triggered by manufacturing data from China to the United States that reflect the economic recovery.
As quoted by Reuters on Tuesday (5/1/2010), the positive sentiment brought the Dow soared 155.91 points, or 1.5 percent to the equivalent 10,583.96.
Meanwhile, the S & P 500 gained 17.89 points, or 1.6 per cent equivalent to 1132.99 and the Nasdaq index rose 39.72 points, or 1.7 percent to the equivalent level of 2308.42.
AUS trade group said that manufacturing activity grew rapidly over the projection period in December. While the index of manufacturing activity of the Institute for Supply Management, showed an increase to 55.9 from 53.6 for November. Many analysts previously predicted below.
While in China, the data of manufacturing industry increased in the last month, for the last 20 months. Another positive sentiment was the manufacturing activities in Europe. Monthly purchasing managers index for the 16 countries with reference to the euro climbed to the highest position in the last 21 months and in the UK, the index has increased in the last 25 months.
On the other hand, the weakening U.S. dollar triggered commodity prices, increasing shares of energy and materials sectors. Rising ranks for the semiconductor manufacturer Intel Corp., also gave rise impact on technology stocks.
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