Stock Market Watch

Stocks End Higher as Strong U.S. Economic Data Outweighs Euro Zone Worries

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Stocks ended higher in trading today as worries about the ongoing debt crisis in the euro zone were outweighed by some strong economic data released in the U.S.

Earlier today, the Commerce Department reported that U.S. retail sales rose 0.5% in the month of October, above economists’ estimate of a gain of 0.3%. Meanwhile, a report from the New York Fed showed that manufacturing activity in the New York region expanded in the month of November. A report from the Labor Department showed that producer prices fell more than forecast in the month of October.


The better than expected economic data overshadowed developments in the euro zone. Earlier today, yields on Spanish bonds soared to a euro-era high. Meanwhile, yields on 10-year Italian bonds once again crossed 7% mark. Yields on French 10-year bonds also rose today. Apart from the debt crisis, euro zone has also been plagued by weak economic growth. Earlier in the day, a report showed that the euro zone economy grew 0.2% in the third quarter.

However, investors brushed aside the worries about the euro zone. All three major indexes ended the day in green. The Dow Jones ended the day 0.14% higher at 12,096.16, the S&P 500 ended the day 0.48% higher at 1,257.81, and the Nasdaq ended the day 1.09% higher at 2,686.20.

Technology stocks led the gains in the S&P 500 in trading today, ending the day 1.26% higher. Consumer Non-Cyclical stocks also rose sharply in trading today, ending the day 0.80% higher. Financials were the worst performers in trading today, ending the day 0.26% lower.

Among the major gainers in trading today were Dick’s Sporting Goods Inc. (NYSE: DKS), which ended the day 4.62% higher at $41.41, Woodward Inc. (NASDAQ: WWD), which ended the day 14.04% higher at $40.77, and Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR), which ended the day 12.98% higher at $47.61.

edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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