U.S. stocks rose, with the Standard & Poor’s 500 Index rebounding from its first monthly loss since October, as reports showing improved manufacturing from Japan to the U.S. bolstered confidence in the global economy.
The S&P 500 rose 1.1% to 1,623.23. The Dow Jones Industrial Average advanced 148.79 points, or 1%, to 15,058.39.
The S&P 500 rallied 13% in the first half of the year,
the best performance since a 17% gain in the first six months of 1998.
The equity benchmark lost 1.5% in June, ending its longest streak of
monthly gains since 2009. The gauge dropped 2.8% since May 21, the day
before Fed Chairman Ben S. Bernanke signaled the central bank could
scale back asset purchases if the economy improves in line with
forecasts.
The Institute for Supply Management’s manufacturing index
increased to 50.9 in June from 49 a month earlier. The median forecast
of economists called for the measure to rise to 50.5. Another report
from the Commerce Department showed construction spending increased 0.5%
in May.
Onyx Pharmaceuticals Inc. surged 50% after saying it is in contact
with other possible bidders following its rejection of an unsolicited
offer from Amgen Inc.
Apple Inc. added 3.5% after Raymond James &
Associates Inc. lifted the stock to strong buy from outperform. Pandora
Media Inc. (P) rallied 5.8% as Morgan Stanley upgraded the stock.
Комментариев нет:
Отправить комментарий