After overseas markets suffered a minor meltdown, U.S. markets opened in the red but then crept higher as the day wore on to close in positive territory, near their highs for the day. Part of the positive tone was due to the ISM Manufacturing Index, which came in at 60.2, the second highest level of the expansion.
When all was said and done, the Industrials were up 0.15%, the Transports were up 1.0%, the Nasdaq climbed 0.76% and the S&P 500 gained 0.31%. Nearly all averages closed with gains, as the VIX fell 3% to 15.60. Breadth was positive, with 1618 gainers vs. 1361 losers on the NYSE.
Earlier in the day international markets did not get off to a good start as both Europe and Asia suffered major losses. A unanimously down day in Europe led to the Stoxx 600 falling 0.84% and the Europe Dow declining 1.2%. Things were worse ... Log in or subscribe to continue reading.