Although global equity markets fell and the euro slipped to its lowest level in two months, but the stock market the United States (U.S.) remains closed higher.
The strengthening of the major indices in the U.S. market as strong manufacturing data in unexpected and positive consumer sentiment. U.S. government bonds also rallied and the dollar as worries about budget cuts and the Americans and the post-election political deadlock in Rome, Italy.
As reported by Reuters on Saturday (03/02/2013), the Institute for Supply Management is reporting, the index of factory activity rose to 54.2 from 53.1 in in January, topping economists’ forecasts are estimating this index will retreat to 52.5.
While economic data from Europe and China disappoint. Instead, there are clear signs of economic recovery in the United States and some evidence of the Japanese economy started to turn down.
In late trading Friday in New York, the Dow Jones industrial average closed up 35.17 points, or 0.25 percent, to 14089.66. The Standard & Poor’s index rose 3.52 points, or 0.23 percent, to 1518.20. Meanwhile, the Nasdaq Composite Index rose 9.55 points, or 0.30 percent, to 3169.74.