News Column

Oil Prices, Factory Orders Bolster Wall Street

July 3, 2012
bull market

U.S. stocks traded higher Tuesday on Wall Street as manufacturing orders rose and oil prices increased.

Factory orders rose in May for the first time in three months, government data showed.

Energy stocks were higher as geopolitical worries about Iran impacted oil prices.

Stocks closed early ahead of the Independence Day holiday Wednesday, when U.S. markets are closed.

The blue-chip Dow Jones Industrial Average added 72.43 points, or 0.56 percent, to 12,943.82. The broader Standard & Poor's 500 Index gained 8.51 points, or 0.62 percent, to 1,374.02. The technology-heavy Nasdaq Composite Index rose 24.85 points, or 0.84 percent, to 2,976.08.

The U.S. currency fell against the euro to 79.32 euro cents from 79.47 euro cents on Monday. The dollar rose against the Japanese currency to 79.81 yen from 79.5 yen.

Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH

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