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Today's Commentary
 
Friday, May 06, 2016


The Dow Jones Industrial Average (DJIA) is bouncing back from last week's miserable showing, thanks to a big boost from bank stock Goldman Sachs Group Inc (NYSE:GS). Additionally, construction spending for March rose a modest 0.3%, while the Institute for Supply Management's (ISM) manufacturing index came in at 50.8. Although this was below estimates, it still remained above the highly watched 50 mark, suggesting expansion. The Dow's gains come despite sliding oil prices, with June-dated crude futures last seen down 1.6% at $45.17 per barrel, amid reports that the Organization of the Petroleum Exporting Countries (OPEC) boosted crude oil production in April   


 
 
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