Stocks Start Higher on Upbeat Chinese Data

Stocks rose at the open on Monday, coming off the worst weekly drop since early June, on upbeat economic data from China. But gains were muted by remaining concerns abou 14.82 points, or 0.12 percent, to 12,830.21. The Standard & Poor’s 500 Index rose 3.14 points, or 0.23 percent, to 1,382.99. The Nasdaq Composite Index added 11.15 points, or 0.38 percent, to 2,916.02.

Gold built further on its best week since August on Monday, supported by expectations U.S. monetary policy would remain ultra-loose while investors also bought the metal as a hedge against a looming U.S. fiscal crisis. Gold added 0.29 percent to $1,736.01 by 1143 GMT, holding near a 3-week high around $1,738 struck on Friday

Research In Motion Ltd (NSQ:RIMM) plans to introduce its new line of BlackBerry 10 smartphones on January 30, the company said on Monday, giving investors a measure of confidence that the long-awaited devices are nearing completion.






Leave a Reply