The August reading of industrial production, which rose 0.2% month-over-month, inline with the expectations of economists, but July’s strong 1.0% growth reading was downwardly revised to a 0.6% increase. Capacity utilization came in at a lower-than-forecast 74.7% from a downwardly revised 74.6% in July, versus the expectation that called for an increase to 75.0%.
The Empire Manufacturing Index, a measure of activity in the New York region, unexpectedly fell in September, dropping to a level of 4.14, compared to the estimates of an increase to 8.00, from the previous month’s level of 7.10.
The Dow Jones Industrial Average gained 46 points (0.4%) to close at 10,573, the S&P 500 Index rose 4 points (0.4%) to 1,125, while the Nasdaq Composite advanced 12 points (0.5%) to 2,301. Crude oil fell $0.78 to $76.02 per barrel, and the Bloomberg gold spot price fell $1.30 to $1,266.85.
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