LONDON (ShareCast) – US stocks were rising on Friday as trading in capital markets resumed following the holiday celebrations. Early in the day the Dow Jones Industrial Average gained 0.56% to 17,923.28, the S&P 500 rose by 0.37% and the tech-laden Nasdaq advanced 0.58%.
“It was a disappointing end to 2014 for the USA, as the Dow Jones Industrials fell at the final hurdle following weak unemployment claims data, causing the index to be denied an 18,000 close to the year,” financial analyst from Spreadex Connor Campbell said.
“With the markets not fully re-engaging until next week, the US markets will be looking for the announcement of America’s ISM manufacturing PMI to inspire some bullish sentiment into the markets.” Crude futures were receding early in the day as WTI crude futures opened around 1.447% lower at $ 52.51 a barrel, while Brent futures dipped about 2.54% to $ 55.91 a barrel.
Campbell noted that “the revelation of an excess supply in Oklahoma, a delivery hub in the US, caused the commodity to once more resume its decline, wiping out the gains made at the end of 2014.” Over on COMEX, gold futures were falling 0.80% to $ 1,174.60 while the dollar was prevailing against the pound, the yen and the euro.
The yield on a benchmark US 10-year Treasury was retreating by six basis points to 2.12%.
Meanwhile, in the corporate world Vertex Pharmaceuticals was rising 3.4% while Danbury Resources was plummeting 5.31%.