Midday on Monday, U.S. stocks continue to rise, the U.S. stock market a good start in the New Year ushered in the first trading day. Economic data show that the U.S. manufacturing sector expanded for the 17th consecutive month, to enhance investor confidence.
EST at 11:20 on January 3rd, the Dow Jones industrial average rose 119.35 points to 11,696.86 points, or 1.03%; the Nasdaq composite index rose 47.06 points to 2,699.93 points, or 1.77%; the S & P 500 Index rose 16.69 points to 1,274.33 points, or 1.33%.
Today, the highest intraday Dow was up nearly 127 points. Dow 30 industrial stocks, 27 stocks were up. Dow component Alcoa (AA) rose 4.4%.
Bank of America the largest U.S. banks (BAC) rose 4.6%. The bank said on Monday that will be provided for the fourth quarter of 3.0 billion, to cover its underwriting subsidiary Countrywide Financial sector for sale to Freddie Mac and Fannie Mae securities charge on loans to potential losses, the bank agreed to settle with the buy-back litigation related to these loans. Freddie Mac (FMCC) and Fannie Mae (FNMA) rose by 8.1% and 10%.
Boeing (BA) rose 1.8% after JP Morgan Chase (JPM) investment grade to its stock from "neutral" from "overweight", citing "expects the company's core civil aviation sector outlook will continue to improve. "