Traders are cheering strong data from the U.S. and China
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| | | 4/01/2019 | |
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| Dow, Nasdaq Continue Climb on Factory Data, FAANG Stocks | | By Lillian Currens | | The Dow Jones Industrial Average (DJI) is up more than 250 points at midday, on lingering optimism over this morning's encouraging Chinese manufacturing data. Echoing that, U.S. manufacturing activity rebounded in March, per the latest data from the Institute for Supply Management (ISM), while February construction spending increased. As such, traders continue to shrug off a surprise drop in retail sales in February. The Nasdaq Composite (IXIC) is also getting a lift from outperforming FAANG stocks including Amazon (AMZN) and Facebook, while the financial sector has the S&P 500 Index (SPX) in the black. Elsewhere, Wall Street looks ahead to more trade talks between the U.S. and China, which will continue this week. China's State Council said over the weekend the country would continue the suspension of tariffs on American vehicles after April 1, as an olive branch amid negotiations. Continue reading for more on today's market, including: - The blue chip analysts are turning bullish on.
- This outperforming shipping stock just landed a Berenberg bull note.
- Plus, Ford stock pops; the drugmaker soaring on cancer data, and Comscore's CEO steps down.
| | >> Continue reading... | |
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