U.S.
stocks rose, following their worst month in a year, as energy shares
rallied with the price of crude to overshadow data showing manufacturing
growth slowed. The dollar, Treasuries and gold retreated.
The
Standard & Poor™s 500 Index added 0.3 percent at 12:15 p.m. in New
York, erasing an earlier drop of 0.7 percent. Energy producers in the
index rose 1.6 percent. The Stoxx Europe 600 Index closed little changed
after erasing a loss of 0.8 percent. The 10-year Treasury yield climbed
four basis points to 1.68 percent. Spain™s 10-year rate increased seven
basis points to 1.49 percent, the most since Jan. 5. The Bloomberg
Dollar Spot Index fell 0.3 percent after three days of gains. U.S. oil
added 2.2 percent and gold lost 0.4 percent.
Exxon
Mobil Corp. and Chevron Corp. jumped more than 1.2 percent to lead
energy producers higher. Factories expanded in January at the weakest
pace in a year as orders cooled, a sign weakness in overseas markets is
restraining U.S. manufacturing. U.S. stocks declined in January while
Treasuries had their best month since 2008 amid slower-than-forecast
growth and mounting concern sliding oil prices and a strong dollar will
hurt corporate profits.
Source : Bloomberg
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