FX & CFD trading involves significant risk
U.S. stocks advanced, erasing a four- day decline for the Standard & Poor’s 500 Index, amid signs that manufacturing across the world is strengthening.
Equities rallied after data showing manufacturing in the U.S. grew in January at the fastest pace in seven months. Chinese manufacturing indexes rose and a U.K. manufacturing gauge jumped to an eight-month high. In Germany, Europe’s largest economy, output grew for the first time since September. Manufacturing contracted less than initially estimated in the euro region. A spokesman said Greece expects to complete talks on a private sector debt swap and a second international financing deal for the country in the next days.
Dow 12,773.64 +140.73 +1.11%, Nasdaq 2,853.29 +39.45 +1.40%, S&P 500 1,329.44 +17.03 +1.30%
Morgan Stanley added 6.9 percent as Facebook Inc. is said to pick the firm to take the lead on its planned initial public offering.
Whirlpool Corp. surged 17 percent as the largest appliance maker projected earnings that beat forecasts.
Bank of America Corp. (ВАС) increased 4 percent, the most in the Dow, to $7.42. Citigroup Inc. advanced 4 percent to $31.95.
Amazon.com Inc. tumbled 8.6 percent, the most in the S&P 500, to $177.66. Sales missed estimates, signaling that its investments in media services, Kindle devices and shipping promotions have been slow to pay off.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.