Manufacturing Report Boosts US Markets


Hemera/Thinkstock(NEW YORK) — A better-than-expected report on manufacturing helped the markets rally on the first day of May. The report also gave the Dow its best close in four years Tuesday, up 66 points at 13,279. The Nasdaq gained just four points, and the S&P added eight for the day.
The Institute for Supply Management says U.S. manufacturing grew last month at its fastest pace in 10 months. New orders, production, and a measure of hiring were all up in April.

Despite success for manufacturing, those who hope to own a small business may hit some roadblocks.  A study by Paynet says lending for small business owners fell three percent in March.

Copyright 2012 ABC News Radio

Respond to this story