September 1, 2014
Wall Street ends up as ISM data upbeat
US stocks ended slightly higher as data showed strength in the services sector and Apple shares rose above $600 for the first time since 2012.
Limiting the day's gains, however, were concerns over an escalation of tensions between Ukraine and pro-Russia separatists. Ukrainian forces were ambushed by separatists, triggering heavy fighting on the outskirts of the rebel stronghold of Slaviansk, a day after a Ukrainian police station in Odessa was stormed.
The Institute for Supply Management said its services sector index rose in April, hitting the fastest pace in eight months and topping expectations. It was the latest report to offer some upbeat news on the economy, which was hit by an unusually harsh winter.
The Dow Jones industrial average rose 17.66 points or 0.11 percent, to 16,530.55, the S&P 500 gained 3.52 points or 0.19 percent, to 1,884.66 and the Nasdaq Composite added 14.158 points or 0.34 percent, to 4,138.055.
European shares fell as concerns about Ukraine and weak Chinese manufacturing data sapped investors' appetite for risk.
Most European indexes cut losses in late trade, however, as data showed growth in the US services sector accelerated more than expected in April, building on Friday's strong non-farm payrolls.
The Euro STOXX index of euro zone shares closed down 0.3 percent at 322.73 points, with the blue-chip Euro STOXX 50 index down 0.2 percent at 3,171.29 points.
Germany's DAX and France's CAC closed 0.3 percent lower and 0.1 percent higher, respectively, in volume roughly 30 percent lower than the monthly average for the past three months.