US manufacturing data boosts Wall Street

clock

US stocks pushed ahead in early trading on Tuesday after a report showed a revival in manufacturing activity in August following a year and a half of contraction.

The benchmark Dow Jones Industrial Average gained 0.6% to trade at 9,551.23 in opening exchanges after an initial struggle to find direction. Industrial bellweather Caterpillar topped the gainers, up 2% to $46.24, while chemicals firm Du Pont was close behind, ahead 1.85% to $32.51. Walt Disney was also in favour, up 1.77% after it agreed to buy Marvel Entertainment, the owner of well-loved comic book characters, including Spiderman and Captain America, for $4bn (£2.5bn). Meanwhile, in the UK, the FTSE curbed earlier losses, down 20.13 points, or 0.4%, to 4,888.77, but miners and o...

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

More than half of IFAs feel negative about a potential Labour govt

More than half of IFAs feel negative about a potential Labour govt

Advisers favour Conservatives when it comes to their clients and business

Isabel Baxter
clock 09 May 2024 • 2 min read
Elections and advice: Planning in political and legislative uncertainty

Elections and advice: Planning in political and legislative uncertainty

‘It should not be based on speculation, always plan on current legislation’

Isabel Baxter
clock 08 May 2024 • 3 min read
'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