Investing.com – U.S. stocks posted sharp gains after the open on Tuesday, after industry data showed that the services sector in the U.S. grew more-than-expected in September, expanding for the ninth consecutive month.
During early U.S. trade, the Dow Jones Industrial Average was up 1.31%; the S&P 500 index jumped 1.58% and the Nasdaq Composite index soared 2.14%.
Earlier in the day, the Institute of Supply Management said its non-manufacturing purchasing manager's index rose to 53.2 in September, after falling to 51.5 in August. Analysts had expected the index to advance to 51.8 in September.
Technology sector stocks led gains, as shares in Apple surged 2.73%, computer-maker Dell saw its shares jump 3.26%, while Google stocks were up 1.97%.
Shares in Electronic Arts soared 4.78%, after the video-game developer reported better-than-expected sales of its flagship FIFA 2011 game in Europe and North America. Rivals video-game maker Konami Corp. jumped 3.01% as well.
In deal news, shares in Amazon.com gained 1.96%, after reports said the company agreed to purchase Spanish-based internet retailer BuyVip for approximately EUR 70 million.
Elsewhere, shares in fertilizer-maker The Mosaic Company gained 3.32%, after announcing that fiscal first-quarter earnings nearly tripled.
Meanwhile, shares in women's clothing retailer Talbots Inc. plunged 12.68%, after the company cut its fiscal third-quarter revenue forecast because of an unexpected decline in customer traffic.
Across the Atlantic, European stock markets were up: France’s CAC 40 soared 2.39%; Germany's DAX gained 1.51%; Britain's FTSE 100 added 1.51%; and the EURO STOXX 50 jumped 2.24%.
Earlier in the day, official data showed that euro zone retail sales fell unexpectedly in August, while a separate report showed that the euro zone purchasing managers' index for service industries was revised up to 54.1 from 53.8.
During early U.S. trade, the Dow Jones Industrial Average was up 1.31%; the S&P 500 index jumped 1.58% and the Nasdaq Composite index soared 2.14%.
Earlier in the day, the Institute of Supply Management said its non-manufacturing purchasing manager's index rose to 53.2 in September, after falling to 51.5 in August. Analysts had expected the index to advance to 51.8 in September.
Technology sector stocks led gains, as shares in Apple surged 2.73%, computer-maker Dell saw its shares jump 3.26%, while Google stocks were up 1.97%.
Shares in Electronic Arts soared 4.78%, after the video-game developer reported better-than-expected sales of its flagship FIFA 2011 game in Europe and North America. Rivals video-game maker Konami Corp. jumped 3.01% as well.
In deal news, shares in Amazon.com gained 1.96%, after reports said the company agreed to purchase Spanish-based internet retailer BuyVip for approximately EUR 70 million.
Elsewhere, shares in fertilizer-maker The Mosaic Company gained 3.32%, after announcing that fiscal first-quarter earnings nearly tripled.
Meanwhile, shares in women's clothing retailer Talbots Inc. plunged 12.68%, after the company cut its fiscal third-quarter revenue forecast because of an unexpected decline in customer traffic.
Across the Atlantic, European stock markets were up: France’s CAC 40 soared 2.39%; Germany's DAX gained 1.51%; Britain's FTSE 100 added 1.51%; and the EURO STOXX 50 jumped 2.24%.
Earlier in the day, official data showed that euro zone retail sales fell unexpectedly in August, while a separate report showed that the euro zone purchasing managers' index for service industries was revised up to 54.1 from 53.8.