Economic news

Wall Street grows on optimistic China’s data

Wall Street cheers up in the green zone on Monday, the first day of the next quarter, as a result of a stronger manufacturing data in China than one expected. This fact reduced concerns over the state of the second largest economy in the world.

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The Dow Jones index jumped 0.70 percent to 26,110, the S & P 500 climbed 0.72 percent to 2.854.84 points, while the Nasdaq Composite index added 0.83 percent to 7,793.40 at 13.53 GMT.

The index of purchasing managers in the China’s manufacturing sector grew from the February mark of 49.9 points to 50.8 in March, having recovered for the first time in four months. The country's business activity index, after official data released on Sunday, rose to its 6-month peak from 49.2 in February to 50.5 in March.

This week, all investors will receive important data on the state of the U.S. economy, and by the end of the week a report on the employment of the population in March. One should remind, that  in February, only 20,000 new jobs were created.

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