Wall Street tacked on solid gains on the first trading day of the month after a round of solid economic reports from across the globe whetted traders' appetite for risky assets.
The Dow Jones Industrial Average, as quoted by foxbusiness.com, jumped 83.6 points, or 0.66%, to 12716, the S&P 500 rallied 11.7 points, or 0.89%, to 1324 and the Nasdaq Composite rose 34.4 points, or 1.2%, to 2848.
The rally was quite broad on the day. In fact, 33 companies listed on the broad S&P 500 hit 52-week highs.
The manufacturing sector expanded at a quicker pace in January than it did in December, according to a report from the Institute for Supply Management. ISM's gauge hit 54.1 for the month from 53.1 in December, falling slightly short of estimates of 54.5.
U.S. construction spending, meanwhile, jumped 1.5% in December from November, easily beating forecasts of a 0.6% gain.
The private sector added 170,000 jobs last month, according to a report from payroll-processing firm ADP. Economists had been expecting an increase of 185,000. The December figures were revised down to 292,000 private sector jobs added from an initially reported 325,000.
The data come ahead of the closely-watched monthly employment report from the Labor Department on Friday. The jobs market has slowly recovered from the recession, when the unemployment rate peaked at 10% in October 2009. The jobless rate fell to 8.5% in the final month of 2011.
How about Indonesia stock market today? Bisnis Indonesia provides recommendations quoted from several brokerages:
The JCI technically may move within the range of 3,946-4,005. Several stocks to watch for day trading: BBRI, ICBP, UNTR, and BSDE.
The index may volatile today and will be shadowed by the settlement of debt crisis in European nations. The support-resistance levels today are 3,941-3,992.
Disclosure: No position at the stock mentioned above.
Print This Article