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US equities advance, ignore weak data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The stock markets in the US got off to a moderately weak start, but quickly inched higher even despite disappointing economic data.

    At the time of writing, the Dow Jones Industrial Average (DJIA) traded 92 points or 0.60% higher. S&P 500 was up 10 points or 0.5%. Nasdaq was up 0.50% as well.

    Shares in Nike and Home Depot were down 2% each. Meanwhile, Caterpillar was up 4%, followed by a 3% gain in Goldman Sachs.

    Weekly jobless claim and productivity growth came in below expectations. Lower guidance from big retailers such as Ralph Lauren Corp. Kohl's Corp. failed to keep the stocks lower.
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