NEW YORK (Dow Jones) – Following positive economic data have closed the shares on Wall Street on Monday friendly. The Dow Jones index of 30 industrials (DJIA) rose by 0.4% or 47 points to 10,974. The day’s high of 10,988 points was the highest since Verlaufsstand 18 months. Thus the 11.000er mark appears within reach. For the S & P 500 index was about 0.8% and 9 points up on 1187. Particularly solid tended technology stocks: The Nasdaq Composite gained 1.1% or 27 points to 2430. (Photo: Schneider)
On the New York Exchange rate gains were only 790 to 2,294 losers. Title 104 closed unchanged. The trade volume amounted to 0.86 (Thursday: 0.92) billion papers.
The U.S. stock market on Monday was the first time respond to the thoughtful attention with great monthly employment report, released on Good Friday, when the stock markets had closed. The U.S. non-farm employees had increased to 162,000 in the month of March, the strongest increase in three years.
Employment growth fell, although somewhat weaker than expected, which is due to the fact that the state has set for the census workers less than expected by economists. The thought with greater attention to employment in the private sector rose more than estimated. At the same time, data for the two previous months were revised substantially upward.
Also on Monday published a positive U.S. economic data surprise: The index of pending home sales in March gained 8.2% the previous month, while the estimate had been denominated in a decrease of 0.5%. This points to a recovery of the U.S. property market. Same time, the ISM index rose for the service sector to 55.4 from 53 in February, the consensus forecast had seen him only 53.5.
Elizabeth Miller, president of Summit Place Financial Advisors, said the ISM services index was encouraging. He clarified what had already shown the labor market figures: a large part of the employment growth was due to the service sector. The data showed that the economy is progressing gradually.
David Bianco, a strategist from Bank of America-Merrill Lynch added that the best scenario for the markets is currently no quick economic recovery but a gradual, which allow for a long time low interest rates. Currently it look like it, that it be so.
After the positive macro-data are cyclically sensitive data found on the upper echelons of the winners in the Dow Jones Index: Caterpillar basket by 1.6% to $ 64.99, DuPont by 1.3% to $ 38.42, and American Express by 2.3% to $ 42.67. Apple’s more expensive by 1.1% to $ 238.49 after the IT group has withdrawn from his new "iPad" on the first weekend sales of more than 300,000 pieces.
In the energy sector moved two transaction announcements of shares, the companies involved. Arena Resources rallied 7.2% to $ 36.71 after the oil and gas group, Sandridge Energy a U.S. $ 1.6 billion takeover bid submitted for heavy arena. Sand Ridge offers 4.77 per share Arena own titles plus $ 2.50 in cash. Sand Ridge fell by 3.4% to $ 7.58.
For Denbury Resources is about 3.1% up to $ 17.88 after the company was sold to Quantum Resources unlisted oil and gas assets for 900 million USD. Tesoro fell against in their first trading day up 5.4% to 13.61 USD after came in an accident at a refinery the company’s five workers died.
DJG / DJN / gei
