Manufacturers Expanding As The Dow Makes Gains – Acadiana Business Index
- Global markets surged after China’s official manufacturing topped expectations. Europe also performed better than anticipated.
- The Dow Jones Industrial Average gained 84 points to 12,716.
- In the U.S., the Institute for Supply Management, showed manufacturers expanded in January at the fastest pace in eight months.
- On Friday the government will release the official monthly payrolls report.
- Homebuilder shares advanced after U.S. data showed construction spending surged in December.
- And, Facebook filed for an initial public offering potentially worth $5 billion. The company said it intends to trade its shares under the ticker symbol "FB", and said it had revenue of $3.7 billion with net income of $1 billion last year.
- Oil prices sliding to $97.54 per barrel.
- Gold closed at $1,747 an ounce.