Stocks rally on better than expected data $M:xnys
- Published: 02 November 2012
- US stocks rallied on better than expected jobless claims numbers, which showed the largest expansion in payrolls in more than 8 months. Stronger than expected ISM numbers showed growth in the manufacturing sector which also helped push equity markets higher
- The S&P 500 jumped 1.1% to 1427.59, its biggest gain since 13th September, whilst major indexes through Europe also posted solid gains for the session.
- Visa Inc rallied 3.7% after reporting fourth quarter profit that beat market estimates whilst Macy's Inc climbed 6.4% after raising its sales forecast
- DOW +1.04%, S&P500 +1.09% and NASDAQ +1.44%
- The Yen fell 0.5% to be trading towards 80.13 against the US dollar and posted declines against all 16 of its major peers
- Copper rose for a third straight day in New York as Chinese manufacturing returned to growth and provided further support to the demand outlook
- Crude oil extended its gains after the US energy department said supplies declined which saw prices close towards USD $87.00 per barrel
