American equity markets contract after weak US data
The US Stock market experienced a negative opening as weak US data and lingering doubts over the misunderstood effects of the sequester left a sour taste in investors’ mouths. In the United States, Core Personal Consumption Expenditure – Prices Index (YoY) rose just +1.3% in January, compared +1.4% in the previous month. In addition, the Core Personal Consumption Expenditure – Price Index (MoM) climbed +0.1% in January, missing expectations of +0.2%. Finally, Personal Income (MoM) fell -3.6% in January, coming in at less than the projected value of -2.2%.