OctaFX | OctaFX Forex Broker
Open trading account
Back

American equity markets open lower falling US consumer spending

FXstreet.com (Barcelona) - The US stock market experienced a lower opening Friday, rescinding some of recent gains in the wake of the recent release of mixed US data. In the United States, Personal Spending (April) fell -0.2%, against expectations of +0.1%. In addition, Core Personal Consumption Expenditure – Price Index (YoY) climbed +1.1% in April, vs. projections of +1.0%. Finally, Personal Income (MoM) was reported at 0.0% in April, against estimates of +0.1%.

Beginning with the indices and composites, the NASDAQ fell -0.33% as it settles in region of 3479.99, down -11.13 points in these moments. In addition, the S&P 500 is trading in negative territory, operating at 1649.41, descending +5.00 points or -0.30% at the time of writing. Finally, the Dow Jones has moved lower at the opening, trading in the zone of 15277.15, presently -0.31% after a movement of -47.38 points.

Sectors are all red at the opening, however the Consumer non Cyclical and Basic Materials sectors have distinguished themselves as the losers thus far, contracting -0.74% and -0.78% respectively. In other news, the price of crude is testing USD $92.55/bbl Friday.

Flash: Asset managers seek the USD in the most liquid markets – UBS

G10 currencies traditionally benefiting from diversification will have to adjust to new realities.
Read more Previous

Flash: Typically bland June gives way to more volatility amidst Fed – Investec

As expected, the US dollar dominated proceedings yesterday as it bobbed along in the weekly ranges before exploding into life on the release of the US growth figures in the afternoon.
Read more Next
Start livechat