U.S. stocks were higher in the final session of the quarter, with some positive Chinese economic data appearing to offset continued signs of slowing domestic manufacturing activity.
Treasury yields were little changed and the U.S. dollar was higher, while gold and crude oil prices declined.
The Dow Jones Industrial Average rose 97 points (0.4%) to 26,917
The S&P 500 Index gained 15 points (0.5%) to 2,977
The Nasdaq Composite increased 60 points (0.8%) to 7,999
In moderate volume, 882 million shares were traded on the NYSE and 1.8 billion shares changed hands on the Nasdaq
WTI crude oil moved $1.84 lower to $54.07 per barrel and wholesale gasoline lost $0.04 to $1.57 per gallon
The Bloomberg gold spot price declined $22.86 to $1,474.31 per ounce
The Dollar Index—a comparison of the U.S. dollar to six major world currencies—was 0.3% higher at 99.38
Regional manufacturing activity slows
The Chicago PMI Index fell back to a level depicting contraction (a reading below 50), declining to 47.1 in September from August’s 50.4 level and compared to the Bloomberg expectation of a dip to 50.0. The index posted the third month of contraction in four as new orders, order backlog and employment all declined.
Treasuries were little unchanged, as the yields on the 2-year and 10-year notes, along with the 30-year bond, were flat at 1.62%, 1.67% and 2.12%, respectively.
Europe mostly higher amid data, Asia mixed
European equities finished mostly to the upside, with the markets focusing some relatively upbeat economic data out of China and the region, while digesting late last week’s report that the U.S. is mulling restricting investment in China. Better-than-expected Chinese manufacturing data was met with reports showing German retail sales rebounded and the nation’s unemployment change declined, while the Eurozone unemployment rate unexpectedly dipped. The euro lost ground versus the U.S. dollar and the British pound nudged higher, as U.K. Brexit uncertainty continued to fester.
Stocks in Asia finished mixed, with the global markets digesting some relatively positive economic data out of China, which came ahead of this week’s extended holiday break for the Chinese markets beginning tomorrow.
Stocks in mainland China declined, while those traded in Hong Kong rose. Japanese equities traded lower even as the yen gave up an early gain and finished lower. South Korean securities rose, though Australian and Indian listings both declined, ahead of this week’s monetary policy decisions from the two nations.