Market Digest: AAPL, CLS, EQR, GSK, TT, KMB, PH, DEO

Summary

Stocks closed higher on Thursday as investors digested new economic data. The January ISM Manufacturing PMI index registered a reading of 49.1, up from 47.1 in December, with growth in new orders, production, and prices, while backlogs, employment and inventories contracted. The S&P Global’s reading of 50.7 is up from 47.9 in December, with an increase in new orders, and both input and output prices and employment increased fractionally. U.S. construction spending rose 0.9% in December, following a 0.4% increase in November. Meta Platforms (META) reported after the close and was up more than 14% within an hour after releasing results. Likewise, Amazon.com (AMZN) rose nearly 13%. The S&P 500 closed up 1.3%, the Dow 0.1% and the Nasdaq gained 1.3%. Crude oil fell to just below $73 per barrel, while gold was up $5 to $2072 per ounce.

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