3 Aug 2015
US stocks end with losses but off lows
FXStreet (Córdoba) - US stocks ended with losses, although off session lows, amid declining oil prices and following below expectations manufacturing and personal spending.
The Dow Jones Industrial Average fell 91.66 points, or 0.5%, to 17,598.20, having been down 193 points at one point in the session. The S&P 500 Index dropped 5.8 points, or 0.3%, to close at 2,098.04. The Nasdaq Composite Index lost 12.9 points, or 0.3%, to close at 5,115.38.
US data also weigh on stocks
US personal spending rose 0.2% in June, posting the smallest gain since February and matching expectations, while personal income rose 0.4% in the same month, slightly above the 0.3% rise expected.
Meanwhile, consumer inflation measured by PCE price index, the Fed’s preferred inflation gauge, rose 0.2% in June and 0.3% YoY, while excluding volatile food and energy categories, PCE price index rose 0.1% MoM and 1.3% YoY.
Manufacturing data also came in the soft side, with the ISM manufacturing PMI printing 52.7 versus 53.5 expected in July.
The Dow Jones Industrial Average fell 91.66 points, or 0.5%, to 17,598.20, having been down 193 points at one point in the session. The S&P 500 Index dropped 5.8 points, or 0.3%, to close at 2,098.04. The Nasdaq Composite Index lost 12.9 points, or 0.3%, to close at 5,115.38.
US data also weigh on stocks
US personal spending rose 0.2% in June, posting the smallest gain since February and matching expectations, while personal income rose 0.4% in the same month, slightly above the 0.3% rise expected.
Meanwhile, consumer inflation measured by PCE price index, the Fed’s preferred inflation gauge, rose 0.2% in June and 0.3% YoY, while excluding volatile food and energy categories, PCE price index rose 0.1% MoM and 1.3% YoY.
Manufacturing data also came in the soft side, with the ISM manufacturing PMI printing 52.7 versus 53.5 expected in July.