US close: Dow Jones reverses Monday's losses

(Sharecast News) - Wall Street stocks closed higher on Tuesday as traders shrugged off disappointing manufacturing data from the previous session and cheered falling bond yields. At the close, the Dow Jones Industrial Average was up 0.36% at 38,711.29, while the S&P 500 advanced 0.15% to 5,291.34 and the Nasdaq Composite saw out the session 0.17% firmer at 16,857.05.

The Dow closed 140.26 points higher on Tuesday, reversing yesterday's losses.

Weak manufacturing data continued to remain in focus on Tuesday as market participants wait to see if growth can carry on long enough as the Federal Reserve looks to see inflation decline further in order to make cuts to its base interest rate.

Also in focus, the yield on the benchmark ten-year Treasury note was down more than six basis points at 4.331%, while its two-year counterpart was nearly three basis points lower at 4.787%.

On the macro front, new orders for US manufactured goods rose by 0.7% month-on-month to $588.2bn in April, according to the Census Bureau, growing at an unchanged pace from the revised value in March, and marginally ahead of market expectations of a 0.7% increase. Durable goods orders expanded by 0.6%, while orders in nondurable goods industries rose by 0.8%.

Elsewhere, US companies advertised fewer positions still in April, a possible reflection of the ongoing cooldown in the demand for labour. According to the Department of Labor, in seasonally adjusted terms the number of job openings declined by 3.5% month-on-month to reach nearly 8.06m (consensus: 8.34m). On another note, the prior month's reading was revised lower from 8.488m to 8.355m. The number of so-called 'quits' increased by 2.9% month-on-month to reach 3.507m, but as a proportion of all separations, they were unchanged at 2.2%.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Boeing Co. (BA) $188.07 2.19% Cisco Systems Inc. (CSCO) $47.42 1.65% Unitedhealth Group Inc. (UNH) $505.49 1.62% Coca-Cola Co. (KO) $63.94 1.60% Procter & Gamble Co. (PG) $167.01 1.43% Verizon Communications Inc. (VZ) $41.56 1.42% Walgreens Boots Alliance, Inc. (WBA) $16.11 1.19% Walmart Inc. (WMT) $66.60 1.19% McDonald's Corp. (MCD) $262.72 1.14% Visa Inc. (V) $272.42 0.75%

Dow Jones - Fallers

Dow Chemical Co. (DOW) $55.22 -1.64% JP Morgan Chase & Co. (JPM) $199.16 -1.32% 3M Co. (MMM) $98.61 -1.15% Caterpillar Inc. (CAT) $327.07 -1.14% Intel Corp. (INTC) $30.03 -0.86% Chevron Corp. (CVX) $156.13 -0.84% Salesforce.Com Inc. (CRM) $234.86 -0.74% Travelers Company Inc. (TRV) $209.64 -0.33% Amgen Inc. (AMGN) $307.37 -0.02% Dowdupont Inc. (DWDP) $0.00 0.00%

S&P 500 - Risers

Carnival Corp. (CCL) $16.94 5.81% Norwegian Cruise Line Holdings Ltd (NCLH) $17.87 3.96% Royal Caribbean Cr (RCL) $155.16 2.78% Rollins Inc. (ROL) $47.30 2.74% Electronic Arts Inc. (EA) $136.50 2.64% Accenture Plc (ACN) $288.57 2.24% VeriSign Inc. (VRSN) $178.79 2.21% Boeing Co. (BA) $188.07 2.19% H&R Block Inc. (HRB) $51.32 2.15% Extra Space Storage (EXR) $148.20 2.15%

S&P 500 - Fallers

Bath & Body Works, Inc. (BBWI) $45.17 -12.82% Gap Inc. (GPS) $26.89 -7.48% Kohls Corp. (KSS) $22.47 -5.79% Harley-Davidson Inc. (HOG) $34.99 -5.28% VF Corp. (VFC) $13.12 -5.00% Stanley Black & Decker Inc. (SWK) $83.02 -4.56% Mohawk Inds Inc. (MHK) $115.66 -4.50% Freeport-McMoRan Inc (FCX) $49.70 -4.50% McCormick & Co. (MKC) $68.87 -4.21% FMC Corp. (FMC) $56.78 -3.87%

Nasdaq 100 - Risers

Liberty Global plc Series C (LBTYK) $17.83 4.33% Liberty Global plc Series A (LBTYA) $17.39 3.88% Biomarin Pharmaceutical Inc. (BMRN) $79.09 3.51% T-Mobile Us, Inc. (TMUS) $177.91 2.79% Electronic Arts Inc. (EA) $136.50 2.64% Vodafone Group Plc ADS (VOD) $9.83 2.18% Adobe Systems Inc. (ADBE) $448.37 2.13% Biogen Inc (BIIB) $234.13 1.88% Verisk Analytics Inc. (VRSK) $258.37 1.82% Cisco Systems Inc. (CSCO) $47.42 1.65%

Nasdaq 100 - Fallers

Sirius XM Holdings Inc (SIRI) $2.59 -6.50% Mercadolibre Inc. (MELI) $1,630.65 -3.69% Trip.com Group Limited (TCOM) $50.16 -3.05% Align Technology Inc. (ALGN) $248.74 -2.27% Wynn Resorts Ltd. (WYNN) $92.92 -2.10% Hasbro Inc (HAS) $57.50 -1.99% Charter Communications Inc. (CHTR) $280.79 -1.90% Microchip Technology Inc. (MCHP) $94.10 -1.59% Asml Holdings N.V. (ASML) $950.81 -1.52% Western Digital Corp. (WDC) $73.94 -1.39%