U.S. equities rose to all-time highs and the dollar strengthened as factory data and the prospect for tax cuts boosted optimism in the economy. The S&P 500 Index closed at another record to start the fourth quarter and the dollar headed for the strongest level since July after data showed U.S. manufacturing expanded at the fastest pace in 13 years. Oil fell toward $50 a barrel and Treasuries fluctuated. Investors are also watching developments in Las Vegas, where more than 50 people have died in the deadliest shooting in modern U.S. history.
Global shares began the final quarter of the year on firm footing amid signs manufacturing is strengthening. China reported an unexpectedly strong factory gauge and Bank of Japan’s quarterly Tankan survey showed the country’s big manufacturers are the most confident in a decade. While U.S. factories got a lift from two major hurricanes, the U.K. reported slowing growth.
Dow Jones Industrial Average rose 153 points to 22,558.42 - another record close.
Nasdaq 100 was steady as tech shares struggled.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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