NPR : News

Filed Under:

UPDATED: On Manufacturing News, Dow Closes At Highest Level In Four Years

Adding 87 points, the Dow closed at 13,339, its highest level since December of 2007.

CNN Money reports that the index rose in reaction to a rise in U.S. manufacturing activity.

The Wall Street Journal adds:

"Market watchers said the better-than-forecast report comes at a key juncture for stocks. Both the S&P 500 and Nasdaq finished April with their first monthly declines this year, and the Dow eked out a narrow gain last month.

"'You needed a second leg for [momentum in stocks] not to decelerate,' said Mark Lehmann, director of equities at JMP Securities in San Francisco. 'Then May kicks off, and you've got a piece of very good news.'"

Our Original Post Continues:

Stocks are rallying today — the Dow Jones Industrial Average is the highest it's been since the last day of 2007 — thanks to stronger-than-expected news about the strength of the nation's manufacturing sector. As of 1:15 p.m. ET, the Dow stood near 13,328. Other major indices were also up.

The news behind the rally came from the Institute for Supply Management, which said its research indicates that "economic activity in the manufacturing sector expanded in April for the 33rd consecutive month, and the overall economy grew for the 35th consecutive month."

As The Associated Press says, "solid growth in manufacturing suggests the slowdown in hiring and factory output in March may have been a temporary lull." Bloomberg News adds that the news "bolstered investors' optimism in the world's largest economy."

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

NPR

Not My Job: Sharon Jones Gets Quizzed On Handshakes

We've invited the lead singer of Sharon Jones & The Dap-Kings to play a game called "Let's shake on it."
NPR

Salvage Supperclub: A High-End Dinner In A Dumpster To Fight Food Waste

The ingredients — think wilted basil, bruised plums, garbanzo bean water — sound less than appetizing. Whipped together, they're a tasty meal that show how home cooks can use often-tossed foods.
NPR

Barbershop: Speechwriters Speak On The RNC And DNC

Republican speechwriter Mary Kate Cary, Democratic speechwriter Jeff Nussbaum and historian from the University of Virginia Barbara Perry dissect the last two weeks of speeches at the RNC and DNC.
NPR

From 'The Water's Edge To The Cutting Edge': Fish Skeletons, CT Scans And Engineering

Professor Adam Summers is a "fish guy." He uses fish to get engineering ideas. His latest project is to CT scan every type of fish — all 33,000 of them.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.