Positive Economic Data Drives Stocks Higher

The U.S. markets rebounded from Monday’s losses after getting a boost from positive November car sales data which met expectations of 5.8 million and light truck sales which came in slightly ahead of estimates at 7.5 million.  Construction spending in October saw a better-than-expected rise of 1.1% which further pressed stocks into the green.

Market Radar - % Change

After yesterday’s surge, Nymex Crude Oil resumed its downward slide shedding 3.07% to settle at $66.88 per barrel down $2.12.  Gold also fell settling at $1,199.40 per ounce down 1.54% or $18.70.

All of the major benchmarks ended in the green with the Dow Jones Industrial Average hitting its 32nd record close ending the day at 17,879.55 up 0.58% or 102.75 points.  The S&P 500 climbed 13.11 points to close at 2,066.55 up 0.64%.

The Nasdaq Composite gained 0.60% to close at 4,755.81 up 28.46 points.  The Nasdaq 100 was up as well climbing 0.42% or 18.15 points to close at 4,305.96.

The Small cap Russell 2000 surged 1.25% to 1,168.44 up 14.39 points and the Fox50 rose 0.47% or 6.76 points to close at 1,458.98.