Equities Mostly Higher as Traders Parse Macro Data

MT Newswires Live04:55

US benchmark equity indexes were mostly higher ahead of Friday's close as markets assessed the latest economic data, including a report showing that private sector output hit the highest level since April 2022.

The Dow Jones Industrial Average was up 0.8% at 44,233.3, while the S&P 500 rose 0.2% to 5,960.7. The Nasdaq Composite was little changed at 18,971.5. Among sectors, industrials and consumer discretionary led the gainers, while communication services saw the biggest drop.

US private sector output rose to 55.3 in November from 54.1 in October, despite continued contraction in manufacturing, according to S&P Global's (SPGI) flash purchasing managers' index. The year-ahead outlook hit a 2.5-year high.

US consumer sentiment increased in November, while year-ahead inflation expectations dropped to the lowest since December 2020, final results from the University of Michigan's Surveys of Consumers showed.

The US two-year yield rose 2.8 basis points to 4.38%, while the 10-year rate dropped 1.8 basis points to 4.41%.

West Texas Intermediate crude oil increased 1.5% to $71.14 a barrel.

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