Wall Street kicked off the first day of November with a bang, as a slew of positive economic reports put some much-needed momentum back into the markets. According to the Institute of Supply Management, the pace of growth in the U.S. manufacturing sector rose to 51.7 in October, a sign that the industry is finally expanding. Construction spending also rose in September, hitting its best level in three months. Consumer confidence was reported to climb to its highest level in over four years in the month of October. In labor news, the private sector added 158,000 jobs in October, bucking analysts’ expectations of a 131,000 increase. And while these reports come as a relief as many are still recovering from the aftermath of Superstorm Sandy, investors will be keeping a close eye on tomorrow’s key job reports [see also Free 7 Simple & Cheap ETF Model Portfolios]. Global Market Overview: Markets Rally On Solid Economic Reports [...] Click here to read the original article on ETFdb.com. Related Posts: This Week In ETFs: December 11th Edition ETF Insider: Sloppy Start To Earnings Season Daily ETF Roundup: First Week Of Earnings Ends In Choppy Trading ETF Insider: Trading Ideas For Earnings Season Daily ETF Roundup: Sour Jobs Data Sparks Fed Hopes
Wall Street kicked off the first day of November with a bang, as a slew of positive economic reports put some much-needed momentum back into the markets. According to the Institute of Supply Management, the pace of growth in the U.S. manufacturing sector rose to 51.7 in October, a sign that the industry is finally expanding. Construction spending also rose in September, hitting its best level in three months. Consumer confidence was reported to climb to its highest level in over four years in the month of October. In labor news, the private sector added 158,000 jobs in October, bucking analysts’ expectations of a 131,000 increase. And while these reports come as a relief as many are still recovering from the aftermath of Superstorm Sandy, investors will be keeping a close eye on tomorrow’s key job reports [see also Free 7 Simple & Cheap ETF Model Portfolios]. Global Market Overview: Markets Rally On Solid Economic Reports [...]
Click here to read the original article on ETFdb.com.
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