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US Stocks Opened Up In December, &Nbsp, And The Three Major Indexes Rose More Than 2%.

2010/12/2 10:44:00 42

Three Major U.S. Stocks Rose Or Dow Jones Industrial Average Rose.

  

U.S.A

The stock market soared on Wednesday.

Three big stock index rises

Both exceed 2%.

After the good economic data at home and abroad pushed us stocks higher, the United States prepared to help maintain Europe's fiscal stability further enhanced market optimism.

The Federal Reserve released the Brown Book newspaper on Wednesday, saying the US economy is improving.

Goldman raised its growth expectations for the US economy.


As of 4:00 pm Eastern time,

Dow Jones industrial average

Up 247 points.

Gain

From 2.25% to 11254, the Nasdaq composite index rose 51 points, or 2.05%, to 2549 points; the standard & Poor's 500 index rose 25 points, or 2.16%, to 1206 points.


  

Economic data:


The US Energy Information Bureau (EIA) released a report on Wednesday that the US crude oil inventories unexpectedly increased by 1 million 100 thousand barrels during the week of November 26th. The average forecast of the economist in przewalskii energy survey decreased by 1 million barrels. After the publication of the data, the New York Mercantile Exchange crude oil futures price cut some gains.


The US Department of Commerce released a report on Wednesday that construction spending in the United States unexpectedly increased by 0.7% in October, a continuation of the previous month's growth momentum, mainly driven by investment growth in public and private construction projects.


The US Supplier Management Association (ISM) released a report on Wednesday that the US manufacturing activity index declined from 56.9 in October to 56.6 in November, less than the average forecast of economists surveyed by MarketWatch dropped to 56.8.


The US Department of Commerce released a report on Wednesday that the productivity of the US labor office in the third quarter was revised up to 2.3% from the initial growth of 1.9%, of which the productivity of the non-agricultural sector was revised upward from 2.6% of the initial increase of 2.5% to 2.6%.


According to the employment report released by ADP on Wednesday, the number of employees in the private sector increased by 93 thousand in November this year, exceeding the average forecast of analysts, the largest increase in employment in 3 years.


  

Macro news:


The Federal Reserve released the Brown Book newspaper on Wednesday, according to the report of the 12 local Federal Reserve's recent sporadic economic reports.

The brown book said sales expectations for Christmas holidays in many sectors were generally better than the same period last year.


According to a US government official told Reuters on Wednesday, the US government is ready to support the expansion of the the European Financial Stability Facility through additional commitments required by the International Monetary Fund (IMF).


The Federal Reserve Bank of New York bought $8 billion 170 million in treasury bonds on Wednesday, the latest move by the Federal Reserve's second round of quantitative easing.


Goldman Sachs increased its growth forecast for the US economy on Wednesday. Goldman Sachs now expects the average GDP growth rate in 2011 to reach 2.7%, higher than the expected 2% growth rate.

Goldman Sachs also said that the US economic growth rate is expected to reach 3.6% in 2012.


Company news:


General Motors said on Wednesday that its sales in the US market increased by 11.4% to 168 thousand and 739 in November compared with the same period last year, compared with 151 thousand and 427 in the same period last year.


The Toyota Auto Body Co is suing the bankruptcy consortium of general motors for handling assets, demanding compensation of $73 million to cover the losses caused by the closure of the California joint venture plant.

TOYOTA also believes that the cost of closing the plant is higher than expected.


China's retail giant Carrefour company three announced its downgrade of its 2010 earnings forecast, the first time that its share price in the Paris market has fallen by nearly 6%.

In addition, Carrefour said on Tuesday night that the company has completed its audit in Brazil and will pay up to 550 million euros (about $717 million in one-time charges), much higher than the previous estimate of 180 million euros.

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