U.S. Manufacturing Grows In April – Acadiana Business Index
- The Dow Jones Industrial Average touched its highest level since December of 2007, adding on 65 points to 13279. The S&P 500 Index was higher by 7 points to 1405 and the Nasdaq gained 4 points to 3050.
- Manufacturing data prompted a return to risk assets. U.S. manufacturing grew in April at its fastest pace in almost a year, buoyed by a pickup in orders as the ISM factory index exceeded economists’ forecasts, climbing to 54.8.
- All sectors in the S&P 500 saw green screens with gains led by financials, energy and technology.
- In turn, JPMorgan Chase gained 81 cents to $43.79, Exxon Mobil climbed 70 cents to $87.04 and Intel added on 56 cents to $28.95. Sears Holdings also garnered attention as it led gainers on the benchmark index with a $8.31 advance to $62.08, thanks to a higher than expected first-quarter profit forecast.
- In addition, first-quarter season continues after the bell tonight with notable tallies due out from Broadcom, Chesapeake and Motorola Mobility.
For a complete report on what happened today on Wall Street, click Ken's Market Report.