US Markets Recover Overnight Losses To Record Strong Gains

wochit business
December 16, 2013 AT 4:04 PM
S&P 500 futures recovered from sharp overnight losses to post strong 0.63% gains in today’s session. Technology-, energy-, and industrial-sector stocks posted the strongest gains. November industrial production rose 1.1% from the prior month, well ahead of the 0.6% estimate. Capacity utilization also rose to the highest level since 2004. Equity breadth remained strong throughout the day, with advancing stocks outnumbering decliners by a 2.5 to 1 margin. Tomorrow morning, the US will release the November consumer price index. Economists estimate that prices rose 0.1% from the prior month to a 1.3% annual rate.