This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Stocks Finish Higher on Promising Economic Data

Stocks in this article: ^DJI^GSPC^IXICXOMPFEAIGSBUXSIRICOSTK

Meantime, consumer confidence improved to 72.2 in October, which was up from 68.4 in September, but was a little softer than the 74 reading analysts expected.

Nonfarm business productivity for the third quarter increased 1.9% as the second-quarter number was revised upward to 2.2%, which was in step with the revision to gross domestic product. Labor costs dipped 0.1%; the consensus was for a 1.2% increase, according to Econoday.

The FTSE 100 in London jumped 1.37%, helped in part by Shell's earnings, while the DAX in Germany closed up 1.03%. Asian markets received a jolt after China's October manufacturing PMI reading reached an eight-month high of 49.5, which was up from a prior month 47.9 and beat the 49.1 consensus among economists polled by Econoday.

Japan's Nikkei average rose 0.21% overnight to close at 8947. Hong Kong's Hang Seng rose 0.83% to 21,821.

Gold for December delivery shed $3.60 to settle at $1,715.50 an ounce at the Comex division of the New York Mercantile Exchange, while December crude oil contracts closed up 85 cents to $87.09 a barrel.

The benchmark 10-year Treasury dipped 8/32, boosting the yield to 1.725%. The dollar was up 0.10%, according to the U.S. dollar index .

Elsewhere on the corporate news front, Royal Dutch Shell, the U.K. oil giant, reported that third-quarter core earnings declined 15% as oil and gas prices fell, but saw a 2.3% increase in third-quarter profit thanks to higher earnings from its liquefied natural gas operations.

Also, U.S. retailers reported October sales rose 4.7%, compared to a final estimate of analysts who expected 4.3%, according to Thomson Reuters. Wholesale giant Costco (COST) said same-store sales rose 7% in October, which beat analysts' estimates, but its stock dipped 1.3%.

Automaker Ford (F) reported that its total retail sales grew 2% in October, with cars and utilities up 2%, and F-Series pickups up 8%. Shares of Ford increased 0.81%.

General Motors (GM) posted an October monthly U.S. sales increase of 5% year over year. Sales to fleet customers were off 2%. Shares ticked up 0.71%.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,461.32 -153.49 -0.92%
S&P 500 1,927.11 -14.17 -0.73%
NASDAQ 4,382.8470 -36.6310 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs