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Manufacturing Data Sends Major Indices Up (NWSA, PFCB)

By: , dated May 1st, 2012
Major indices were up by around half a percent today, riding on the back of good data about the state of manufacturing and auto sales in America. Manufacturing output in April was at its highest point in 10 months, according to the Institute for Supply Management. Meanwhile, Q1 2012 was the best quarter for auto sales in the US since Q1 2008. In corporate news, News Corp. (NWSA) came under some heat today as a UK parliamentary committee released its report declaring CEO Rupert Murdoch unfit for his station. Struggling restaurant firm P. F. Chang’s China Bistro (PFCB) will be purchased by a privately held company for a little over $1 billion.

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