Investing.com - U.S. stock markets were modestly higher after the open on Tuesday, amid ongoing indications the U.S. economy is strengthening and as volumes remained light ahead of the Christmas holiday.
During U.S. morning trade, the Dow Jones Industrial Average rose 0.2%, the S&P 500 added 0.1%, while the Nasdaq 100 rose 0.1%. U.S. stock markets are set to close Tuesday at 1 p.m. Eastern Time for Christmas Eve, then reopen Thursday.
Market sentiment remained supported amid indications the U.S. economic recovery is deepening. The Commerce Department said earlier that total durable goods orders increased by 3.5% in November, easily surpassing expectations for a 2% gain. Core durable goods orders, excluding volatile transportation items, climbed by a seasonally adjusted 1.2% in November, above forecasts for a 0.6% increase.
Orders for core capital goods, a key barometer of private-sector business investment, surged 4.5% last month, blowing past expectations for a 0.7% gain. Shipments of core capital goods, a category used to calculate quarterly economic growth, advanced 2.8% in November, significantly higher than expectations for a 1% gain.
Across the Atlantic, European stock markets were mildly higher in a holiday-shortened session. France’s CAC 40 inched up 0.06%, while Britain's FTSE 100 rose 0.43%.
Markets in London closed at 12:30 p.m. London time, or 7:30 a.m. Eastern Time, while markets in France are due to close around 1 p.m. London time for Christmas Eve. Several other European stock markets are fully closed for trade. Bourses in Germany, Italy, Greece, Switzerland and Scandinavia are all set to remain shut.
Meanwhile, in Asia, stock markets were broadly higher amid mounting optimism over the health of the U.S. economy and after the People’s Bank of China injected liquidity to the financial system.
The PBOC injected USD4.7 billion through open-market operations for the first time in three weeks on Tuesday, sending borrowing costs to around 5.5%, well off the previous day’s high of nearly 9%.
In Tokyo, the Nikkei rallied to the highest level since 2007 before trimming gains to end up 0.12% as traders monitored movements in the currency market.
During U.S. morning trade, the Dow Jones Industrial Average rose 0.2%, the S&P 500 added 0.1%, while the Nasdaq 100 rose 0.1%. U.S. stock markets are set to close Tuesday at 1 p.m. Eastern Time for Christmas Eve, then reopen Thursday.
Market sentiment remained supported amid indications the U.S. economic recovery is deepening. The Commerce Department said earlier that total durable goods orders increased by 3.5% in November, easily surpassing expectations for a 2% gain. Core durable goods orders, excluding volatile transportation items, climbed by a seasonally adjusted 1.2% in November, above forecasts for a 0.6% increase.
Orders for core capital goods, a key barometer of private-sector business investment, surged 4.5% last month, blowing past expectations for a 0.7% gain. Shipments of core capital goods, a category used to calculate quarterly economic growth, advanced 2.8% in November, significantly higher than expectations for a 1% gain.
Across the Atlantic, European stock markets were mildly higher in a holiday-shortened session. France’s CAC 40 inched up 0.06%, while Britain's FTSE 100 rose 0.43%.
Markets in London closed at 12:30 p.m. London time, or 7:30 a.m. Eastern Time, while markets in France are due to close around 1 p.m. London time for Christmas Eve. Several other European stock markets are fully closed for trade. Bourses in Germany, Italy, Greece, Switzerland and Scandinavia are all set to remain shut.
Meanwhile, in Asia, stock markets were broadly higher amid mounting optimism over the health of the U.S. economy and after the People’s Bank of China injected liquidity to the financial system.
The PBOC injected USD4.7 billion through open-market operations for the first time in three weeks on Tuesday, sending borrowing costs to around 5.5%, well off the previous day’s high of nearly 9%.
In Tokyo, the Nikkei rallied to the highest level since 2007 before trimming gains to end up 0.12% as traders monitored movements in the currency market.