Stocks close up on manufacturing data
By ASSOCIATED PRESS February 1, 2012 9:24AM
In this Jan. 25, 2012 photo, traders Stephen Holden, left, and Gerard Farco work on the floor of the New York Stock Exchange. Solid manufacturing surveys from around the world helped boost markets on Wednesday, Feb. 1, 2012, as attention turned towards the state of the U.S. economy in the run-up to a crucial jobs report. (AP Photo/Richard Drew)
Updated: February 1, 2012 3:24PM
U.S. stocks are finishing higher after strong manufacturing data and encouraging reports from Greece. Stronger gains earlier in the day faded by the closing bell, though.
The Dow Jones industrial average rose 84 points, or 0.7 percent, to close at 12,716. The broader Standard & Poors 500 index rose almost 12 points, or 0.9 percent, to close at 1,324. The Nasdaq rose 34 points, or 1.2 percent, to 2,848.
Rising stocks outnumbered decliners almost 5-to-1 on Wednesday.
Earlier in the day, the Dow was up 151 points.
Factories raised output in January by the most in seven months. And the Commerce Department said construction spending rose 1.5 percent in December, the fifth straight monthly gain.
Stocks also got help from progress on debt negotiations in Greece.
Comments Click here to view or make a comment