U.S. stocks, dollar gain as manufacturing surges

02.10.2017 / 20:14

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U.S. equities rose with the dollar as factory data bolstered optimism in the global economy and markets continued to speculate about a new Federal Reserve chair.

The S&P 500 Index hovered near record highs to start the fourth quarter, with investors also watching developments in Las Vegas, where more than 50 people have died in the deadliest shooting in modern U.S. history. 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. 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.

Source: Bloomberg Pro Terminal

Jr Trader Alexander Kumanov

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U.S. stocks, dollar gain as manufacturing surges

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