Stocks reverse 3 days of declines $DXc1

Last Updated on Monday, 05 March 2012 14:48

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Stocks rallied rebounding from a three day slump as jobless claims fell and manufacturing signalled a strengthening US economy
The S&P500 rallied 0.3% whilst the Dow Jones Industrial Average gained 0.4% as Spanish 5 year notes fell 34 basis points and the Euro strengthened to 1.3014 being its first advance in a week.
Equity markets halted a three day decline as initial jobless claims unexpectedly dropped to three year lows as Federal Reserve gauges of manufacturing in New York and Philadelphia also topped estimates.
DOW 45.33 S&P500 3.93 Nasdaq 1.7
Stocks and the Euro pared gains as IMF manging director Christine Lagarde said Europes debt crisis is escalating beyond the point where one group of nations can solve it.
FedEx was a big mover overnight after the worlds largest cargo airlines 76% jump in earnings topped analysts estimates. Boeing also climbed as FedEx said it ordered 27 of the companies 767 jets to retire old planes.
Jan Crude oil fell again closing at 93.40 per barrel whilst gold is lower trading at 1570.00 per ounce.
The USD Index fell slightly after three days of gains.

Published by Spectrum Live Pty Ltd | www.spectrumlive.com

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