Stocks gained as upbeat consumer confidence and manufacturing data countered concern about government-spending cuts. Also, data showed Chinese manufacturing slowing for a second month and euro-zone factory activity contracting.Groupon rallied 12.6% a day after the daily-deals provider fired its CEO following a disappointing quarter. Gap gained 2.9% after the co. tallied fourth-quarter profit that exceeded estimates. Salesforce.com gained 7.6% after posting better-than-expected results for its fourth quarter. Apple slid 2.5% after a U.S. district court judge cut nearly in half its award in its patent-infringement case with Samsung. Investors will continue to monitor data on the state of the U.S. economy after the forced federal spending cuts were triggered on Friday, including jobs figures, and an indication that more stimulus in the global financial system is on the way.
Monday, March 4, 2013
All yes on spending cuts and jobs
Stocks gained as upbeat consumer confidence and manufacturing data countered concern about government-spending cuts. Also, data showed Chinese manufacturing slowing for a second month and euro-zone factory activity contracting.Groupon rallied 12.6% a day after the daily-deals provider fired its CEO following a disappointing quarter. Gap gained 2.9% after the co. tallied fourth-quarter profit that exceeded estimates. Salesforce.com gained 7.6% after posting better-than-expected results for its fourth quarter. Apple slid 2.5% after a U.S. district court judge cut nearly in half its award in its patent-infringement case with Samsung. Investors will continue to monitor data on the state of the U.S. economy after the forced federal spending cuts were triggered on Friday, including jobs figures, and an indication that more stimulus in the global financial system is on the way.
