The Norman Transcript

Nation/World

November 2, 2012

U.S. stocks rise on strong economic data

NORMAN — It’s only been a day, but November on Wall Street is already looking a lot better than October.

Strong economic data and corporate news converged Thursday to give U.S. stocks their best day since mid-September. Positive signs about the job market and soaring sales figures pushed stock futures up before the market opened. A half-hour into trading, reports on manufacturing and consumer confidence added another log to the fire.

The Dow Jones industrial average had already risen 100 points when the mid-morning reports came out. The data — including news that manufacturing grew for the second straight month — pushed it up as much as 177 points. It fell back some, but held a steady gain for the rest of the day.

The Dow closed up 136.16 points, or 1 percent, at 13,232.62. It was the best day for the Dow since Sept. 13.

The Standard & Poor’s 500 index rose 15.43 points, or 1.1 percent, to 1,427.59. The Nasdaq composite index added 42.83, or 1.4 percent, to 3,020.06.

All three indexes fell in October, their first monthly losses since May.

The 10 a.m. surge came after the Institute for Supply Management said factories are seeing more new orders and increased production. The index has shown growth for the first two months of this quarter, an encouraging sign about the health of corporate America. Before that, manufacturing had decreased for three straight months.

The Conference Board said Americans’ confidence in the economy surged last month to the highest level in nearly five years. Many were encouraged by an improving job market, the group said.

For local news and more, subscribe to The Norman Transcript Smart Edition, or our print edition.

1
Text Only | Photo Reprints
Nation/World
  • Senate approves new VA secretary

    WASHINGTON — The Senate on Tuesday unanimously confirmed former Procter & Gamble CEO Robert McDonald as the new Veterans Affairs secretary, with a mission to overhaul an agency beleaguered by long veterans’ waits for health care and VA ...

    July 30, 2014

  • Senate passes highway bill, sends it to House

    WASHINGTON — The Senate on Tuesday voted to change the funding and timing of a House bill to keep federal highway funds flowing to states in an effort to force Congress to come to grips with chronic funding problems that have plagued ...

    July 30, 2014

  • Israel targets Hamas infrastructures in latest round of bombing

    GAZA CITY, Gaza Strip — Israel unleashed its heaviest bombardment in a 3-week-old war against Hamas on Tuesday, striking symbols of the militant group’s control in Gaza and firing tank shells that Palestinian officials said shut down the ...

    July 30, 2014

  • Be ready for ‘prolonged’ Gaza war, prime minister says

    GAZA CITY, Gaza Strip — Signaling an escalation of Israel’s Gaza operation, Prime Minister Benjamin Netanyahu told Israelis Monday to be ready for a “prolonged” war, and the military warned Palestinians in three large neighborhoods to ...

    July 29, 2014

  • Deal to improve health care costs $17B

    WASHINGTON — A bipartisan deal announced Monday would authorize about $17 billion to help veterans avoid long waits for health care, hire more doctors and nurses to treat veterans and make it easier to fire executives at the Department of ...

    July 29, 2014

  • FedEx charges raising online pharmacy issues

    SAN FRANCISCO — FedEx Corp., the latest company accused in a federal probe involving illegal online pharmacies, says it will fight the charges that it knowingly shipped drugs to people who lack valid prescriptions....

    July 27, 2014

  • EU, U.S. seek to curb Putin’s Ukraine course

    BRUSSELS — Months after Russia annexed Crimea and stepped up support for separatists in eastern Ukraine, Europe and the United States are still searching for a way to persuade Russian President Vladimir Putin to change course....

    July 27, 2014

  • Fighting intense near crash

    DONETSK, Ukraine — Ukrainian armed forces mounted a major onslaught against pro-Russian separatist fighters Sunday in an attempt to gain control over the area where a Malaysia Airlines plane was downed earlier this month....

    July 27, 2014

  • Gaza war rages despite truce pledges

    GAZA CITY, Gaza Strip — Israel and Hamas launched new attacks Sunday in the raging Gaza war, despite going back and forth over proposals for a temporary halt to nearly three weeks of fighting ahead of a major Muslim holiday....

    July 27, 2014

  • Hamas fires rockets on Israel, ending 12-hour lull

    BEIT HANOUN, Gaza Strip — Hamas said it fired five rockets at Israel late Saturday after rejecting Israel’s offer to extend a 12-hour humanitarian cease-fire by four hours, casting new doubt on international efforts to broker an end to 19 ...

    July 27, 2014