All sectors leaped into the green after the growth in American factory output accelerated unexpectedly in April to the fastest rate in nearly one year. ISM index rose to 54.8 from 53.4, beating economists’ expectation of dropping to 53. Financial, energy and commodity names led the gains among the 10 major industries in the S&P. Alcoa, JP Morgan, Bank of America, American Express, Intel, Verizon and AT&T led the rally in the Dow and pushed it the highest level since 2007. Equity indexes erased the losses in April. YTD return for the Dow, 8.69%. And it gets better with the S&P and NASDAQ, YTD returns are 11.79% and 17.09% respectively. For more news and updates, keep it right here at the Financial News Network. I’m Julia Sun reporting from New York City.
