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16 Dec 2013
Wall Street rallies amid economic data
FXstreet.com (San Francisco) - Santa seems to have come to town on Monday after the market reacted positive lower than expected PMI manufacturing data but strong industrial production in the US. Overall, stocks rallied ahead of FOMC meeting.
The NY Empire State Manufacturing Index showed a lower than expected recovery in December with a 0.98 points from -2.21 in November. Market expected 4.75 pts. The Manufacturing PMI declined to 54.4 in preliminary reading of December from 54.7 in November while consensus was an increase to 55.0.
The Dow Jones advanced 129.21 points or 0.82% to close at 15,884.57. The S&P 500 added 11.22 pts or 0.63% to finish the day at 1,786.54. The Nasdaq Composite won 28.54 pts or 0.71% to 4,029.52.
The NY Empire State Manufacturing Index showed a lower than expected recovery in December with a 0.98 points from -2.21 in November. Market expected 4.75 pts. The Manufacturing PMI declined to 54.4 in preliminary reading of December from 54.7 in November while consensus was an increase to 55.0.
The Dow Jones advanced 129.21 points or 0.82% to close at 15,884.57. The S&P 500 added 11.22 pts or 0.63% to finish the day at 1,786.54. The Nasdaq Composite won 28.54 pts or 0.71% to 4,029.52.