Economic News Pushes Stocks Higher
By Michael J. Martinez
The Associated Press
NEW YORK (AP) - Stocks edged higher Monday as Wall Street digested the latest round of positive economic news and earnings reports.
The Institute for Supply Management released its manufacturing index, which rose to 63.6 in January from 63.4 in December. However, the new figure was slightly below the 64 reading Wall Street expected, leading to a great deal of volatility in trading.
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Comment – Gold is down in London (fixed a recommended price of $397.90 bid per troy ounce late Monday, down from $401.40 late Friday, and in Zurich,where the bid price was $398.23, down from $400.73), while the dollar also drops compared to (euro up to $1.2435) but dollar gains vs yen (down from 105.67 to 105.57 yen)