U.S. Stocks gained mostly by opening the first trading day in October, shaving the Standard & poor’s worst quarterly slump since October 2008, amid better than forecasted manufacturing and construction data from the U.S economy, cooling fears about a global economic slowdown, while Europe’s debt crisis concerns stood up as usual as investors feared the European policy makers may fail to solve Europe’s looming debt crisis and avoid the risk of a possible Greek debt default.
Earlier on Monday, the Institute for Supply Management showed that manufacturing activities expanded at faster pace than forecasted in September topping both the prior and forecasted estimates; in addition the U.S. Commerce Department signaled spending of several kinds of construcions have increased beyond expectations in August.
Alcoa Inc slipped 3.97 percent, amid ongoing concerns of a slower demand from the global economy, LAS Vegas Sands Corp lost 1.28 percent, on fears demand for gambling may dampen after Macau Casino Operators tumbled.
Citigroup Inc plunged 2.40 percent, as the lender could be facing penalties since its Japanese retail banking unit may have breached regulations.
The Dollar index which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, fell from today's opening level of 79.08 to currently trade at 78.88 recording its highest level at 79.15 and its lowest at 78.79.
Gold prices dropped to reach $1648.29 since the opening level of $1628.79. Oil declined to reach $77.72 after opening at $78.80 per barrel.
As for stocks, the most sectors that added points the most leading the rallies in the DJIA were the Technology, Industrials and Financials shares respectively, while in the S&P 500 index most adding sectors were the Financials, Technology and Industrials shares respectively.
The Dow Jones Industrial Average traded higher by 11.17 points or 0.10 percent at 10:29 New York time reaching 10924.55 levels, while the S&P 500 index traded at 1132.44 as it dropped by 1.02 points or 0.09 percent, meanwhile the NASDAQ Composite index declined 0.14 points or 0.01% to trade at 2415.26 levels.