Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

U.S. stocks advanced, as Standard & Poor’s 500 Index recovered from its first monthly loss since October, as reports showing improved manufacturing in the U.S. That boosted confidence in the global economy. The reports were in a line with a gradually improving economy, but not strong enough to raise concerns about the Federal Reserve reducing its stimulus policies.

The S&P benchmark index surged by 0.54% to to 1,614.96 at close, The Dow Jones Industrial Average increased 65.36 points, or 0.44 percent, to 14,975.

Volatility could be higher than usual this week, with low trading volumes during the trading week exaggerating any moves. U.S. markets are closed Thursday for the Independence Day holiday. The week is most likely going to be marked by Friday’s report on non-farm payrolls for month of June. Some of the stocks to watch this week include Apple as company is taking steps to registering iWatch trademark in Japan, BlackBerry which is struggling with its flagship smartphone sale, and HTC Corp which is due to post earnings this week.

In corporate news, Shares of Zynga the social game provider added almost 11% for the day and were up about 3% after the market closed following an announcement that CEO Mark Pincus will step down.

Best Buy the electronics retailers shares jumped on a bullish analyst report. Pandora was upgraded by Morgan Stanley, sending shares of the music streaming company to a new 52-week high.

Tesla shares hit a record high above $116 after analysts at Jefferies raised price target for the stock to $130.

In Europe markets recorded gains. The FTSE 100 surged by 1.5% as it is expected the new governor, Mark Carney, who joined the Bank of England to follow looser monetary policy.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Commodities trading outlook: gold, silver and copper futuresCommodities trading outlook: gold, silver and copper futures Precious metals found support from faltering retail sales in the US. Both gold and silver erased earlier losses to trade even with the previous close. Meanwhile, copper futures posted losses with news that Chinese industrial output is slowing. […]
  • Market Sentiment and Observations for 1st of October The American stocks’ session dipped down on Thursday with the DJIA, S&P500, Nasdaq, shedding off 1.59%, 1.19% and 0.44% from their market values, respectively. The weak performance is sending the September results with a 4% drop, the worst […]
  • Euro expanded significantly versus US dollarEuro expanded significantly versus US dollar The euro extended its positions against US dollar during Wednesday trade session, as dollar registered losses against the yen, which caused impact on greenbacks positions against other major currencies.During the later hours of European […]
  • Forex Market: EUR/USD daily forecastForex Market: EUR/USD daily forecast During yesterday’s trading session EUR/USD traded within the range of 1.3698-1.3731 and closed at 1.3718.At 6:43 GMT today EUR/USD was losing 0.01% for the day to trade at 1.3713. The pair touched a daily low at 1.3707 at 6:31 […]
  • USD/JPY stable before FedUSD/JPY stable before Fed US dollar traded with stability against the Japanese yen on Wednesday ahead of the keenly anticipated outcome of Federal Reserve Banks policy meeting, as expectations pointed asset purchase tapering to a certain extent.USD/JPY reached a […]
  • Haynes International to be acquired by Acerinox subsidiaryHaynes International to be acquired by Acerinox subsidiary Haynes International Inc, a developer, manufacturer and marketer of technologically advanced high-performance alloys, said on Monday that it had entered into a definitive agreement to be purchased by North American Stainless, a wholly […]