Among Tuesday’s three upbeat economic reports was the Federal Reserve revelation that industrial production rose by twice as much as expected.
Economists were expecting the U.S. Federal Reserve to report that industrial production increased by 0.2 percent in March. Investors were excited to see that industrial production actually increased by 0.4 percent. The reports on March housing starts and the Consumer Price Index were also better than expected.
The Dow Jones Industrial Average (NYSEARCA:DIA) regained 157 points to reach 14,756 for a 1.08 percent advance. The S&P 500 (NYSEARCA:SPY) rebounded by 1.43 percent to close at 1,574. The Nasdaq 100 (NASDAQ:QQQ) climbed 1.46 percent to 2,838. The Russell 2000 (NYSEARCA:IWM) regained almost half of Monday’s loss, rising 1.65 percent to end the day at 922.
In other major markets, oil (NYSEARCA:USO) climbed 0.83 percent to close at $31.75.
On London’s ICE Futures Europe Exchange, June futures for Brent crude oil (NYSEARCA:BNO, NYSEARCA:USO) declined by 68 cents, or 0.68 percent, to $99.95/bbl. June gold futures (NYSEARCA:GLD) advanced by $8.00, or 0.59 percent, to $1,369.10 per ounce…