Investing.com - U.S. stocks were sharply higher on Tuesday, as market sentiment was boosted by a flurry of positive economic data from the U.S, the euro zone and China.
During early U.S. trade, the Dow Jones Industrial Average rose 0.87%, the S&P 500 index advanced 0.76%, while the Nasdaq Composite index climbed 0.95%.
A report showed earlier that the New York Federal Reserve’s index of manufacturing conditions improved more-than-expected in January, climbing to the highest level since April.
Meanwhile, stronger-than-forecast German business sentiment data indicated that the euro zone’s largest economy was performing strongly despite the effects of the region’s debt crisis.
Sentiment was also boosted by better-than-forecast data on Chinese fourth quarter economic growth.
Financial stocks were mixed with shares in Bank of America surging 2.87% and Goldman Sachs jumping 1.81%, while JPMorgan tumbled 1.56% and Citigroup plunged 3.29% after posting weaker-than-expected earnings.
Meanwhile, Wells Fargo climbed 2.63% after announcing better-than-expected earnings as the bank set aside less money to cover bad loans.
Elsewhere, Boeing advanced 1.77% after saying demand for its new aircraft will likely drop by more than 50% this year as an initial flurry of A320neo purchases wanes.
The comments came after Airbus announced record orders in 2011 and extended its lead over Boeing.
On the downside, Carnival saw shares plunge 15.29% after analysts cut earnings estimates and changed ratings on the cruise line company following the crash of one of its ships off the coast of Italy.
Rival Royal Caribbean Cruises also slumped 4.1% amid worries the accident will impact industry sales.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 jumped 1.23%, France’s CAC 40 climbed 0.61%, Germany's DAX surged 1.23%, while Britain's FTSE 100 rose 0.35%.
During the Asian trading session, Hong Kong's Hang Seng Index rallied 2.9%, while Japan’s Nikkei 225 Index gained 1.05%.
During early U.S. trade, the Dow Jones Industrial Average rose 0.87%, the S&P 500 index advanced 0.76%, while the Nasdaq Composite index climbed 0.95%.
A report showed earlier that the New York Federal Reserve’s index of manufacturing conditions improved more-than-expected in January, climbing to the highest level since April.
Meanwhile, stronger-than-forecast German business sentiment data indicated that the euro zone’s largest economy was performing strongly despite the effects of the region’s debt crisis.
Sentiment was also boosted by better-than-forecast data on Chinese fourth quarter economic growth.
Financial stocks were mixed with shares in Bank of America surging 2.87% and Goldman Sachs jumping 1.81%, while JPMorgan tumbled 1.56% and Citigroup plunged 3.29% after posting weaker-than-expected earnings.
Meanwhile, Wells Fargo climbed 2.63% after announcing better-than-expected earnings as the bank set aside less money to cover bad loans.
Elsewhere, Boeing advanced 1.77% after saying demand for its new aircraft will likely drop by more than 50% this year as an initial flurry of A320neo purchases wanes.
The comments came after Airbus announced record orders in 2011 and extended its lead over Boeing.
On the downside, Carnival saw shares plunge 15.29% after analysts cut earnings estimates and changed ratings on the cruise line company following the crash of one of its ships off the coast of Italy.
Rival Royal Caribbean Cruises also slumped 4.1% amid worries the accident will impact industry sales.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 jumped 1.23%, France’s CAC 40 climbed 0.61%, Germany's DAX surged 1.23%, while Britain's FTSE 100 rose 0.35%.
During the Asian trading session, Hong Kong's Hang Seng Index rallied 2.9%, while Japan’s Nikkei 225 Index gained 1.05%.