S&P 500, Dow extend recovery after strong U.S. business surveys
By Medha Singh
Reuters
(Reuters) - The S&P 500 and the Dow rose on Friday, extending a recovery from the previous session, as strong U.S. factory and services activity surveys lifted the mood at the end of a volatile week of trading.
Helping the Dow outperform was Boeing, which added about 3% as industry sources said the planemaker has drawn up preliminary plans for a fresh sprint in 737 MAX output to as many as 42 jets a month in fall 2022.
IHS Markit s data showed U.S. business activity picked up in May amid strong domestic demand, but backlogs of uncompleted work are piling up as manufacturers struggle to find raw materials and labor.
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Futures up: Dow 0.30%, S&P 0.26%, Nasdaq 0.21%
By Medha Singh
May 21 (Reuters) - U.S. stock index futures ticked higher on Friday, extending a recovery from the previous session, as attention shifted to business surveys at the end of a volatile week of trading.
Data firm IHS Markit s U.S. manufacturing and service sector PMI data is set to be released shortly after markets open and comes on the heels of surveys in the euro zone indicating the fastest pace of business growth in over three years in May.
Wall Street s main indexes gained ground on Thursday following a three-day slump after data showed the fewest U.S. weekly jobless claims since the pandemic-driven recession in 2020, pointing to a pick up in labor market.
Stocks mixed as Dow extends recovery after strong U.S. business surveys
By Medha Singh and Krystal Hu
Reuters
(Reuters) - The S&P 500 and the Dow Jones Industrial Average rose on Friday, extending a recovery from the previous session, while inflation concerns still loom for growth stocks at the end of a volatile week of trading.
Helping the Dow outperform was Boeing, which added 3.2% as industry sources said the planemaker has drawn up preliminary plans to increase in 737 MAX output to as many as 42 jets a month in fall 2022.
IHS Markit s data showed U.S. business activity picked up in May amid strong domestic demand, but backlogs of uncompleted work are piling up as manufacturers struggle to find raw materials and labor.