Driven by the positive economic data, U.S. stocks higher on Wednesday midday. Commodity prices dragged down related stocks declined, but the labor market data and services more than expected ISM index, so investors are excited.
At 11:46 on January 5 EST, the Dow Jones industrial average rose 27.36 points to 11,718.54 points, or 0.23%; the Nasdaq composite index rose 14.90 points to 2,696.15 points, or 0.56%; the S & P 500 Index rose 4.51 points to 1,274.71 points, or 0.36%.
By the fall in commodity futures prices, the general decline in raw materials and energy sector. Alcoa (AA) fell 0.8%.
Dow component Walt Disney (DIS) rose 2%. After Goldman Sachs (GS) to be included in the "sure to buy" list, citing its subsidiary theme park is expected performance of the sector will bounce back.
Financial sector generally higher. Bank of America (BAC) rose 1.4%, JP Morgan Chase (JPM) rose 1%, American Express (AXP) rose 0.8%.
Economic data released today morning increased market confidence. ADP agency reported in December last year, the private sector increased by 29.7 million jobs, the Dow Jones News survey of economists expected an increase of 10 million. ADP employment data appear in its history the biggest monthly increase. The data will be released Friday indicates that the crucial non-farm employment data may be positive.
U.S. stocks opened, the U.S. Institute for Supply Management (ISM) announced that the ISM services index in December was 57.1 points. According to Bloomberg News survey of economists forecast an average 55.7 points. November's ISM services index was 55.0 points.