Afternoon Markets: US stocks resilient despite weak economic news

clock

The Dow Jones shrugged off surprisingly weak US manufacturing data today to sneak ahead after a choppy start.

The index rose more than 13 points, or 0.15%, to 9,721.95 in early trading, erasing earlier losses. Insurer Travelers Company topped the winner's list, advancing 1.6%, while construction equipment manufacturer Caterpillar and McDonalds also gained more than 1%. Wal-Mart and Walt Disney fell out of favour, dropping 1.89% and 1.14% respectively. Meanwhile in the UK, the FTSE extended earlier gains to climb 36 points, or 0.71%, to 5,115.33, with oil firms getting a boost from a G20 summit pledge to maintain economic stimulus measures for as long as required. Tullow Oil rose 3.78% ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read
Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read