In economic data, the ISM reported that the manufacturing sector continued to grow in February, even though it fell to 56.5 from 58.4 in January, as the gauge remained over 50.
Some good news on the consumer front, personal spending rose 0.5% in January, even though income gained only 0.1%. Spending on both durable and nondurable goods was strong.
The dollar rose against the euro, led by a sharp sell-off in sterling and lingering uncertainty over a bailout for debt-strapped Greece. The pound hit a 10-month low versus the dollar and was on track for its biggest one-day drop since October. The dollar index is close to the 81 mark.
Crude fell from a six-week high as the dollar advanced against the euro reducing demand for raw materials as an alternative investment.
Copper surged higher in LME session on supply concerns prompted by the massive earthquake in Chile at the weekend. For rest of the industrial metals, it has been a mixed session.
Source : http://www.moneycontrol.com/news/international-markets/wall-street-ends-higher-led-by-technology-stocks_444248.html
Some good news on the consumer front, personal spending rose 0.5% in January, even though income gained only 0.1%. Spending on both durable and nondurable goods was strong.
The dollar rose against the euro, led by a sharp sell-off in sterling and lingering uncertainty over a bailout for debt-strapped Greece. The pound hit a 10-month low versus the dollar and was on track for its biggest one-day drop since October. The dollar index is close to the 81 mark.
Crude fell from a six-week high as the dollar advanced against the euro reducing demand for raw materials as an alternative investment.
Copper surged higher in LME session on supply concerns prompted by the massive earthquake in Chile at the weekend. For rest of the industrial metals, it has been a mixed session.
Source : http://www.moneycontrol.com/news/international-markets/wall-street-ends-higher-led-by-technology-stocks_444248.html
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