Benzinga
Published Jun 01, 2023 17:05
Updated Jun 01, 2023 18:10
US Stocks Turn Higher; ISM Manufacturing PMI Drops In May
Benzinga - U.S. stocks turned higher midway through trading, with Nasdaq gaining around 100 points on Thursday.
The Dow traded up 0.27% to 32,996.06 while the NASDAQ rose 0.76% to 13,034.08. The S&P 500, also rose, gaining, 0.59% to 4,204.69.
Check This Out: $2M Bet On Align Technology? Check Out These 3 Stocks Insiders Are Buying
Leading and Lagging Sectors
Top Headline
The ISM manufacturing PMI declined to 46.9 in May from 47.1 in the previous month and, compared to expectations of 47.
Equities Trading UP
Equities Trading DOWN
Also Check This Out: Wall Street's Most Accurate Analysts Say Hold These 3 Utilities Stocks With Over 4% Dividend Yields
Commodities
In commodity news, oil traded up 2.1% to $69.50 while gold traded up 0.7% at $1,996.30.
Silver traded up 1.5% to $23.935 on Thursday while copper rose 1.9% to $3.7060.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.68%, London’s FTSE 100 rose 0.59% while Spain’s IBEX 35 Index rose 1.27% The German DAX gained 1.12% French CAC 40 rose 0.5% and Italy’s FTSE MIB Index climbed 1.84%.
The consumer price inflation rate in the Eurozone dropped to 6.1% in May from 7.0% in the prior month, while unemployment rate fell to 6.5% in April, the lowest rate on record. The HCOB Eurozone manufacturing PMI rose to 44.8 in May versus a preliminary reading of 44.6.
The S&P Global France manufacturing PMI was revised lower to 45.7 in May from a preliminary reading of 46.1, while German manufacturing PMI was revised higher to 43.2 in May from a preliminary level of 42.9.
The HCOB Spain manufacturing PMI declined to 48.4 in May from 49 a month ago. Consumer credit in the UK rose by £1.586 billion in April, while Nationwide House Price Index in the UK fell by 3.4% year-over-year in May.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 gaining 0.84%, Hong Kong’s Hang Seng Index declining 0.10% and China’s Shanghai Composite Index rising 0.01%. India’s S&P BSE Sensex slipped 0.1%.
Retail sales in Hong Kong climbed 13.3% year-over-year in April. The S&P Global Indian manufacturing PMI rose to 58.7 in May from 57.2 in the previous month. The Caixin China General Manufacturing PMI increased to 50.9 in May from prior month’s reading of 49.5.
Retail sales in Australia came in unchanged at AUD 35.3 billion during April. The au Jibun Bank Japan manufacturing PMI slipped to 50.6 in May versus flash reading of 50.8.
Economics
Now Read This: Top 5 Materials Stocks You'll Regret Missing This Quarter
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 107,119,070 cases with around 1,165,440 deaths. India confirmed a total of at least 44,990,870 cases and 531,870 deaths, while France reported over 40,086,590 COVID-19 cases with 167,310 deaths. In total, there were at least 689,709,570 cases of COVID-19 worldwide with more than 6,885,220 deaths.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read the original article on Benzinga
Written By: Benzinga
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.