Dow Dips 150 Points; ISM Manufacturing PMI Tops Estimates

U.S. stocks traded mixed midway through trading, with the Dow Jones index falling around 150 points on Monday.

The Dow traded down 0.34% to 44,759.96 while the NASDAQ gained 1.03% to 19,416.22. The S&P 500 also rose, gaining, 0.26% to 6,047.97.

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Leading and Lagging Sectors

Communication services shares jumped by 1% on Tuesday.

In trading on Tuesday, utilities shares fell by 1.9%.

Top Headline

The ISM manufacturing PMI rose to 48.4 in November versus 46.5 in the previous month, beating market estimates of 47.7.

Equities Trading UP
                       

Equities Trading DOWN

Commodities

In commodity news, oil traded up 0.4% to $68.30 while gold traded down 0.6% at $2,665.60.

Silver traded down 0.9% to $30.835 on Monday, while copper fell 0.4% to $4.1220.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.38%, Germany's DAX climbed 1.15% and France's CAC 40 fell 0.43%. Spain's IBEX 35 Index rose 0.40%, while London's FTSE 100 rose 0.07%.

Asia Pacific Markets

Asian markets closed higher on Monday, with Japan's Nikkei 225 gaining 0.80%, Hong Kong's Hang Seng Index gaining 0.65%, China's Shanghai Composite Index climbing 1.13% and India's BSE Sensex gaining 0.56%.

Economics

  • U.S. construction spending increased by 0.4% month-over-month to an annual rate of $2,174 billion in October compared to a 0.1% gain in September.
  • The ISM manufacturing PMI rose to 48.4 in November versus 46.5 in the previous month, beating market estimates of 47.5.
  • The S&P Global US manufacturing PMI rose to 49.7 in November compared to a preliminary reading of 48.8, and versus 48.5 in October.

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