U.S. manufacturing grew less than predicted last month, according to a new report, and that news sent stocks down to begin April.
With the U.S. Market closed today for Good Friday, Daily Data Flow will wrap up its week with some snapshots of international monetary affairs.
Data showing that economic growth slowed less than predicted and that concerns about Europe were easing were partially responsible for the S&P 500 closing at an all-time high.
Concerns over Europe’s debt crisis, as exemplified by the Cyprus affair, lowered today, but not enough to result in an overall gain for stocks. The markets recovered from a dip earlier in the day, ending with only a slight loss.
Thanks to forecast-beating durable goods orders in February and the biggest increase in home prices since 2006, U.S. stocks rose today, putting the S&P 500 back up near its all-time high.
Investor optimism fell in the aftermath of Cypriot banks reaching a deal, causing U.S. stocks to fall for the day.