5 Aug 2015
US stocks rise amid mixed domestic data
FXStreet (Mumbai) - The US stocks traded higher in the early US session on Wednesday and appear poised to end the three-day losing streak.
The S&P 500 rose 16.68 points, or 0.8%, to 2,110.00, while the Nasdaq Composite jumped 58 points, or 1.14%, to 5,163.82. The Dow Jones Industrial Average (DJIA) advanced 87.81 points or 0.5% to 17,638.50.
The DJIA is lagging other two indices due to the losses in the shares in Walt Disney Co, which fell more than 6% on account of weak earnings. Priceline Group jumped 6% after the company reported profit and revenue that easily beat analysts' forecasts.
On the data front, the positive surprise from the US ISM non-manufacturing print overshadowed the dismal ADP July employment report and the rise in trade deficit in June. The ISM non-manufacturing in July rose to a decade high, thereby pushing the 2-yr treasury yield higher by almost three basis points to 0.756%. The 10-yr yield currently trades 7.5 basis points at 2.286%.
The S&P 500 rose 16.68 points, or 0.8%, to 2,110.00, while the Nasdaq Composite jumped 58 points, or 1.14%, to 5,163.82. The Dow Jones Industrial Average (DJIA) advanced 87.81 points or 0.5% to 17,638.50.
The DJIA is lagging other two indices due to the losses in the shares in Walt Disney Co, which fell more than 6% on account of weak earnings. Priceline Group jumped 6% after the company reported profit and revenue that easily beat analysts' forecasts.
On the data front, the positive surprise from the US ISM non-manufacturing print overshadowed the dismal ADP July employment report and the rise in trade deficit in June. The ISM non-manufacturing in July rose to a decade high, thereby pushing the 2-yr treasury yield higher by almost three basis points to 0.756%. The 10-yr yield currently trades 7.5 basis points at 2.286%.