The US stocks climbed up on Monday, 01 March 2021, with the S&P 500, the Dow index, and the broader Nasdaq all to settling higher, as encouraging updates on COVID-19 vaccines and fiscal stimulus bolstered bets over a swift economic recovery.
At the close of trade, the Dow Jones Industrial Average index advanced 603.14 points, or 1.95%, to 31,535.51. The S&P500 index dropped 90.67 points, or 2.38%, to 3,901.82. The tech-heavy Nasdaq Composite Index added 396.48 points, or 3.01%, to 13,588.83.
Major indices leapt at the open and remained in positive territory the entire day, as investors cheered the emergency use approval of Johnson & Johnson s single-dose Covid-19 vaccine by US regulators over the weekend, giving the nation a third shot to battle the world s worst outbreak.
WASHINGTON (dpa-AFX) - U.S. manufacturing activity grew at an accelerated rate in the month of February, according to a report released by the Institute for Supply Management on Monday.The ISM
U.S. Services Index Unexpectedly Reaches Nearly Two-Year High In January
WASHINGTON (dpa-AFX) - A report released by the Institute for Supply Management on Wednesday showed U.S. service sector activity unexpectedly grew at an accelerated rate in the month of January.
The ISM said its services PMI inched up to 58.7 in January from a revised 57.7 in December, with a reading above 50 indicating growth in the service sector.
The uptick came as surprise to economists, who had expected the index to edge down to 56.8 from the 57.2 originally reported for the previous month.
With the unexpected monthly increase, the services PMI reached its highest level since hitting 58.8 in February of 2019.
U.S. manufacturing activity slowed slightly in January, while a measure of prices paid by factories for raw materials and other inputs jumped to its highest level in nearly 10 years, strengthening expectations inflation will perk up this year. The moderation in activity reported by the Institute for Supply Management on Monday reflected a flare-up in .
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WASHINGTON (Reuters) -U.S. manufacturing activity slowed slightly in January, while a measure of prices paid by factories for raw materials and other inputs jumped to its highest level in nearly 10 years, strengthening expectations inflation will perk up this year.
FILE PHOTO: Frames of various car models make their way down the flex line at Nissan Motor Co s automobile manufacturing plant in Smyrna, Tennessee, U.S., August 23, 2018. Picture taken August 23, 2018. REUTERS/William DeShazer
The moderation in activity reported by the Institute for Supply Management on Monday reflected a flare-up in COVID-19 infections, causing labor shortages in factories and their suppliers, which the ISM said “will continue to restrict the manufacturing economy expansion until the coronavirus crisis abates.” Manufacturing and housing are anchoring the economic recovery from the pandemic.