U.S. stocks advance amid hopes for central bank action

PanARMENIAN.Net - Stocks advanced Friday, June 15 as hopes that central banks stand ready to support global markets following a key Greek election overshadowed dismal U.S. manufacturing data, according to The Wall Street Journal.

The Dow Jones Industrial Average recently rose 58 points, or 0.4%, to 12707 in early trading. The Dow has battled through sharp gains and losses this week and finished Thursday at a one-month high.

The Standard & Poor's 500-stock index gained five points, or 0.4%, to 1333, and the Nasdaq composite added seven points, or 0.3%, to 2843.

A reading on manufacturing activity in the New York area in June came in far lower than expected at a level that reflects only slight expansion. June's reading was the lowest since November. A separate report showed U.S. industrial production fell slightly in May, compared with expectations for a modest rise.