Despite Jitters, US Stocks Open Higher
Tuesday, 23 August 2011


U.S. stocks opened modestly higher on Tuesday on a better-than-expected manufacturing data from China.

According to HSBC's China Manufacturing Purchasing Managers Index, the reading of 49.8 was slightly higher than 49.3 in the previous month.

Investors also expected that the Federal Reserve may provide additional economic stimulus after the ending of the second round of bond-buying program known as Quantitative Easing policy.

However, some investors were still concerned about the future development of global economy.

As for shares, gold stocks plunged as gold prices dropped over 1 percent on Tuesday.

The Dow Jones industrial average gained 44.81 points, or 0.41 percent, to 10,899.46. The Standard & Poor's 500 was up 2.09 points, or 0.19 percent, to 1,125.91. The Nasdaq Composite Index rose 8.69 points, or 0.37 percent, to 2,353.85.

 

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