Indices closed in green territory Tuesday. Stocks stepped up on the first trading session of 2012. Financial brands Bank of America and JPMorgan Chase and aluminum maker Alcoa led the Dow’s ascent. Brands gained on promising economic news. Manufacturing increased in December. The Institute for Supply Management’s manufacturing index climbed to 53.9 from 52.7 in November. The reading exceeded an expected jump to 53.2. On another note, construction spending rose more than expected in November. The Census Bureau reported a 1.2% upswing in spending following a revised 0.2% dip in October. Economists had anticipated a 0.5% rise after an initially reported gain of 0.8% in October. Looking ahead, December car sales and November factory orders data is set for release tomorrow.
Disclosures:
All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing.