News Column

Markets Shoot Up on Factory Reports

April 2, 2013

U.S. stock indexes shot up higher in early trading Tuesday as the Commerce Department said factory orders rose in February by 3 percent.

In Europe, statistical agency Eurostat said unemployment in February rose from 10.8 percent to 12 percent. Markit Economics said Britain's manufacturing sector remained in a slump, but U.S. investors shrugged off those reports.

In midmorning trading, the DJIA added 86.78 points or 0.6 percent to 14,659.63. The Standard & Poor's 500 index gained 9.23 points or 0.59 percent to 1,571.40. The Nasdaq composite index rose 0.76 percent, adding 24.75 points to 3,263.93.

Ten-year U.S. treasury bonds fell 7/32 to yield 1.857 percent.

Against the dollar, the euro fell to $1.283 from Monday's $1.2849. Against the yen, the dollar rose to 93.36 yen from 93.24 yen.

In Tokyo, the Nikkei 225 index shed 1.08 percent, 131.59 points, to 12,003.43.

Source: Copyright UPI 2013

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