real-time news and commentary for investors
Friday, Nov 1
Stocks edge higher, S&P and Dow post fourth straight weekly gain
- Stocks pushed higher in lackluster afternoon trading as better than expected data on U.S. and China manufacturing activity boosted sentiment.
- The S&P and Dow finished with their fourth straight weekly gains, but the Nasdaq edged lower for the week.
- The morning's ISM report, which showed manufacturing rose to its highest level since April 2011 despite the government shutdown, was the second stronger than expected reading on U.S. manufacturing in as many days after yesterday's Chicago PMI report.
- Utilities paced sector gains, while and energy and materials were the day's worst performers; notably, the small-cap Russell 2000 lagged today and underperformed throughout the week.
- Treasurys sold off on the economic data, pushing the 10-year yield as high as 2.624%.