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1 Oct 2013
Wall Street rallies in the 1st shutdown day
FXstreet.com (San Francisco) - Wall Street answered ‘I don't care’ to the US government shutdown first day as stocks recovered from multi-week lows on Tuesday. Overall, the rally was driven by the start of the quarter, upbeat US economic data and hopes that the debt impasse will be solved shortly.
However, according CNBC, top GOP aide affirmed that govt. shutdown could last over 1 week. On economic data, US ISM manufacturing index rose to 56.2 in September, highest since Apr 2011, with employment component rising to 55.4 and signaling for a stronger NFP on Friday.
The Dow Jones advanced 62.3 points or 0.41% to close the day at 15,191.70. The S&P 500 added 13.45 pts or 0.80% to 1,695.00. The Nasdaq Composite jumped 46.50 pts or 1.23% to 3,817.98.
However, according CNBC, top GOP aide affirmed that govt. shutdown could last over 1 week. On economic data, US ISM manufacturing index rose to 56.2 in September, highest since Apr 2011, with employment component rising to 55.4 and signaling for a stronger NFP on Friday.
The Dow Jones advanced 62.3 points or 0.41% to close the day at 15,191.70. The S&P 500 added 13.45 pts or 0.80% to 1,695.00. The Nasdaq Composite jumped 46.50 pts or 1.23% to 3,817.98.