U.S. Stocks End Higher On Econ Data

U.S. stocks closed higher yesterday. The Dow clawed north as well, although it was pressured by a massive slide in the value of component Hewlett-Packard (HPQ). HPQ shares at one point fell to a nine-year low after CEO Meg Whitman said that HPQ revenues will be growing in line with GDP by 2016. Positive U.S. economic data boosted the indexes.

At 8:30 a.m. ET payroll processor ADP reported that private payrolls rose by 162,000 in September, which was above the 152,000 estimate compiled from a poll of economists by Dow Jones Newswires. The better-than-expected reading boosted sentiment that Friday's official monthly jobs report from the Labor Department will be strong.

At 10:00 a.m. ET, the Institute for Supply Management reported that the September ISM index rose for the 33rd month in a row, weighing in with a 55.1 reading, versus expectations of 53.5. In addition, the Mortgage Bankers Association's index, which measures mortgage applications, rose 16.6% for the week ended Sept. 28, up from the prior week's 2.8% increase.

Commodities ended mixed. Gold for December delivery finished up 0.2% at $1,779.80 per ounce. Crude-oil futures ended at their lowest since early August on demand concerns. Crude for November delivery declined $3.75, or 4.1%, to settle at $88.14 a barrel on the New York Mercantile Exchange.

Here's where the market stood at end-of day:

Dow Jones Industrial Average up 12.25 (+0.09%) to 13,494.61

S&P 500 up 5.24 (+0.36%) to 1,450.99

Nasdaq Composite Index up 15.19 (+0.49%) to 3,135.23

GLOBAL SENTIMENT

Nikkei 225 Index down 0.44%

Hang Seng Index up 0.23%

Shanghai China Composite Index up 1.44%

FTSE 100 Index up 0.32%

DAX up 0.33%

CAC 40 down 0.21%

UPSIDE MOVERS:

(+)SRPT, Muscular Dystrophy Trial Meets Endpoint

(+)LNET, Gets Marriott GPNS Approval

(+)FMD, Company Signs Agreement to Acquire Certain Assets and Liabilities of Cology, Inc.

DOWNSIDE MOVERS:

(-) LEAP, Plunges After Deutsche Telekom and MetroPCS Communications (PCS) Confirm Merger-Mobile USA and MetroPCS.

(-) RIGL, Prices Public Offering

(-) HPQ, CEO Warns About Revenue Growth