U.S. stock indices rose on Tuesday. Energy stocks were the biggest positive contributors.
The Dow Jones Industrial Average rose 89.39 points, or 0.5%, to 17,918.15. The S&P 500 added 5.74 points, or 0.3%, to 2,109.79 (its energy sector rose 2.5%). The Nasdaq Composite Index gained 17.98 points, or 0.4%, to 5,145.13.
The Commerce Department reported that U.S. factory orders fell for the second straight month in September, while the manufacturing sector continued struggling with a strong dollar and energy companies' expenditure cuts. Factory orders fell by 1.0% after the 2.1% decline in August.
Meanwhile the index of U.S. economic optimism calculated by Investor's Business Daily and TechnoMetrica Institute of Policy and Politics declined to 45.5 in November from 47.3 in October. The latest reading is 2.5 points below the index's 12-month average (48.0 points) and 3.6 points below the average throughout the history of the index (49.1).
Investors are waiting for U.S. jobs data. A strong report could intensify expectations for a rate hike in December.
This morning in Asia Hong Kong Hang Seng rose 2.48%, or 559.70, to 23,128.13. China Shanghai Composite Index gained 2.70%, or 89.66, to 3.406.36. The Nikkei 225 rose 1.84%, or 344.09, to 19,027.33.
Asian indices advanced. Japanese stocks climbed on the biggest initial public offering in the country since 1998. Market participants are closely watching IPO of Japan Post ignoring other factors. Stocks of Japan Post Holdings Co. and its financial units jumped 14%.