Stocks Rise on Manufacturing Data

By: Associated Press
By: Associated Press

New York, NY (AP) - U.S. stocks are finishing higher after strong manufacturing data and encouraging reports from Greece. Stronger gains earlier in the day faded by the closing bell, though.

The Dow Jones industrial average rose 84 points, or 0.7 percent, to close at 12,716. The broader Standard & Poors 500 index rose almost 12 points, or 0.9 percent, to close at 1,324. The Nasdaq rose 34 points, or 1.2 percent, to 2,848.

Rising stocks outnumbered decliners almost 5-to-1 on Wednesday.

Earlier in the day, the Dow was up 151 points.

Factories raised output in January by the most in seven months. And the Commerce Department said construction spending rose 1.5 percent in December, the fifth straight monthly gain.

Stocks also got help from progress on debt negotiations in Greece.


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Gerry on Feb 2, 2012 at 04:46 AM
    According to the US Bureau of Labor Statistics when Bush was in office 63% of Americans were working. Obama has maintained just over 58%. Unemployment statistics represent only the Americans getting benefits. FIFTEEN MILLION JOBS need to be created return to Bush's success.
  • by Gerry Location: Tallahassee on Feb 1, 2012 at 02:53 PM
    As of today, the US borrows for 10 years at 1.83%. The total US national debt as of 1/31/12 = $15.356 trillion. As of 1/20/09 = $10.627 trillion. As of 1/20/01 = $5.728 trillion. Increase in total public debt during George W. Bush administration = $4.899 trillion. During Obama administration = $4.729 trillion. Source for debt info: treasurydirect.
    • reply
      by Anonymous on Feb 1, 2012 at 04:24 PM in reply to Gerry
      Bush spent it on bombs and bullets and Medicare drugs....Obama spent it on bombs and bullets and Obamacare. there is no difference. no hope and no change. Elitists in both parties and out of touch
    • reply
      by Anonymous on Feb 1, 2012 at 08:14 PM in reply to Gerry
      1/20/01 to 1-20-09 = 8 years. 1-21-09 to 1-31-12 = 3 years. Increase in total public debt during George W. Bush administration = $4.899 trillion OVER 8 YEARS. During Obama administration = $4.729 trillion OVER 3 YEARS. 8 years is more than 3 years. Source: pocket calendar.
      • reply
        by Gerry on Feb 1, 2012 at 10:36 PM in reply to
        1/21/09 to 1/31/12 is about 10 days more than 3 years, about 3.03 years. Can you figure out the debt accumulated during Obama's first 3 years? I doubt that you can. Can you figure out the debt accumulated during Bush's final year and compare it to the debt accumulated during Obama's third year? I doubt you can do that, either. I mean you can't do it unless you receive and repost a spam e-mail.
        • reply
          by Anonymous on Feb 2, 2012 at 12:38 PM in reply to Gerry
          What spam e-mail? Those are YOUR own figures, copied directly from your post. Is eight not more than three in your bizarro world?
      • reply
        by Gerry on Feb 2, 2012 at 04:47 AM in reply to
        pocket calendar.....HAHAHAHA wonder what genius will say about that.
        • reply
          by Gerry on Feb 2, 2012 at 11:29 AM in reply to Gerry
          @ Fake Gerry Do you detect a note of envy in your posts? Probably if you were a genius, you would find a unique handle and display you're geniusness.
        • reply
          by SmirkingJack on Feb 2, 2012 at 11:50 AM in reply to Gerry
          your geniusness
    • reply
      by Anonymous on Feb 2, 2012 at 11:44 AM in reply to Gerry
      That’s right, the biggest single holder of U.S. government debt is the Federal Reserve system. The Fed's system of banks and other U.S. intragovernmental holdings accounted for a stunning $6.328 trillion in U.S. Treasury debt in Spetember 2011 (the most recent number available). The amount is an all-time high as the Federal Reserve continues to expand its balance sheet, partially to purchase U.S. government debt securities. Hey Gerry....told you
      • reply
        by Gerry on Feb 2, 2012 at 12:13 PM in reply to
        I doubt your number is correct. You are posting anonymously precisely so there will be no consequences. What is the source of the number? I think you are including intragovernmental debt like money owed to SS. I thought the Federal Reserve hadn't purchased Treasury debt in the last 6 months. What do you mean "continues to expand"?
        • reply
          by Gerry crying on Feb 2, 2012 at 02:43 PM in reply to Gerry
          Direct quote from CNBC and Yahoo. Do your own homework genius.
        • reply
          by Gerry on Feb 2, 2012 at 03:23 PM in reply to Gerry
          The Feds system of banks hold $1.65 billion. That's a direct quote from CNBC and I think is a mistake, should probably be $1.65 trillion. You don't know what you're talking about. You're posting with a handle never seen before exactly in order to be unaccountable. You're a simpleton.
        • reply
          by Gerry.not fed system of banks on Feb 2, 2012 at 05:52 PM in reply to Gerry
          1. Federal Reserve and Intragovernmental Holdings U.S. debt holdings: $6.328 trillion That’s right, the biggest single holder of U.S. government debt is inside the United States and includes the Federal Reserve system and other intragovernmental holdings. Of this number, The Fed's system of banks owns approximately $1.65 billion in U.S. Treasury securities (as of January 2012), while other U.S. intragovernmental holdings - which include large funds such as the Medicare Trust Fund and the Social Security Trust Fund - hold the rest. In the monthly Treasury bulletin, both are combined into one category and the total accounts for a stunning $6.328 trillion in holdings as of September 2011 (the most recent number available). The amount is an all-time high as the Federal Reserve continues to expand its balance sheet, partially to purchase U.S. government debt securities. The Social Security Trust fund is required by law to invest in securities where the principal and interest is guaranteed by the Federal government. About a decade ago, the total government holdings were "only" $2.5 trillion.
        • reply
          by Gerry on Feb 3, 2012 at 12:20 AM in reply to Gerry
          treasurydirect says intragovernmental holdings as of 2/1/12 amount to $4.763 trillion. If you add $1.65 trillion, not billion, to the intragovernmental you end up with $6.413 trillion. So the Fed holds $1.65 trillion of US debt. The Fed is the largest holder of US debt, but only holds $1.65 trillion, not $6.328 trillion. China holds $1 trillion of US debt. Japan holds $1 trillion of US debt. The Fed hasn't bought Treasury debt in the last 6 months. The Fed buys in the secondary market, not directly from the Treasury. What do you mean "continues to expand"? Stunning to whom? The $6.328 trillion is included in the $15.3 trillion total national debt.
  • by Working Man Location: Tallahassee on Feb 1, 2012 at 02:25 PM
    Good news! The recovery has started. Sorry Mitt, I know you don't want to hear that news, even though the Great Recession never hit your wallet. You profited from it.
    • reply
      by Anonymous on Feb 1, 2012 at 04:21 PM in reply to Working Man
      All politicians in both parties profited. They are the rich elite and we are their money slaves.
      • reply
        by Gerry on Feb 1, 2012 at 09:38 PM in reply to
        This is a good post. Saying all politicians are the same, and all profited to the same degree, is so much easier than thinking.
    • reply
      by Dems are 1 percenters on Feb 1, 2012 at 04:26 PM in reply to Working Man
      I know how Mitt made his money and I don't begrudge anyone for getting rich honestly. The question is how does a community activist have a 10-25 million dollar net worth?
      • reply
        by Gerry on Feb 1, 2012 at 09:36 PM in reply to Dems are 1 percenters
        This is a funny post, full of sinister innuendo. Obama wrote a book and since he achieved a high position, it kept on selling. $10 million is the highest I've ever heard his net worth estimated. Lord Reginald Romney, patron saint of the struggling middle class, (he feels their pain) has a net worth of $250 million.
      • reply
        by Dems are 1/2 percenters on Feb 2, 2012 at 12:35 PM in reply to Dems are 1 percenters
        Gudgemental Gerry again.....writing books is an OK to become rich, but other ways of becoming rich are evil.
  • by Gerry on Feb 1, 2012 at 02:25 PM
    Obama has done it again.
WCTV 1801 Halstead Blvd. Tallahassee, FL 32309
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 138515469 - wctv.tv/a?a=138515469
Gray Television, Inc.