(As of 7:15 am PST)
Stocks are higher to start on
Monday as all three major US benchmarks opened in the green to start the month
of March. It is a relatively quiet day with investors taking in economic data
reports at the open of the session. A report on construction spending showed
January spending falling 1.1%, more than the 0.2% growth expected while a
report on manufacturing, the ISM index, showed manufacturing activity growing
at a slightly slower pace than anticipated for February. Reports on personal
incomes and spending for January, showed incomes rising slightly while consumer
spending fell 0.2% last month, due mostly to cheaper energy prices. In overseas
action, Asian markets finished the day higher, while European indexes are
mostly down heading into the final hours of trade. Gold and oil are flat while
interest rates ticked up as investors sold treasuries. It’s a quiet day with
markets taking a surprise turn to the upside in the early going.
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