US economic data tests market confidence

-

  • 12 August 2016
    •  
  • From the sectionBusiness

NYSE tradersImage copyrightREUTERS

(Close): US markets were mixed on Friday as data on retail spending and producer prices raised questions about the buoyancy of the economy.
The Dow Jones was down 37.05 points to 18576.47, while the wider S&P 500 was 1.74 points lower at 2184.05.
The tech-based Nasdaq climbed 4.5 points to 5232.89.
US retail sales in July came in at $457.7bn, an unexpectedly flat figure compared with June, when there had been strong consumer spending.
Producers prices took an unexpected drop, suggesting a continuingly weak inflation environment that may make it difficult for the Federal Reserve to raise interest rates this year.
The producer price index - the measure of the costs for services and energy products- dropped 0.4% in July. The first drop since March.
Elsewhere, economic data showing China's economy slowing down had no marked effect on trading, while data from the eurozone confirmed it grew at 0.3% in the second quarter.
Winners on the Dow were Exxon Mobil which climbed 1.3% and Coca-Cola up 0.6%.
Shares of Alibaba rose 7% one day after the e-commerce giant reported its largest revenue growth as a public company.
Banks saw their stock prices fall over concerns that the Fed will hold interest rates at ultra-low levels.
JP Morgan and Bank of America were down 0.2%. Goldman Sachs fell 0.4% and Wells Fargo slipped 0.7%.
Source: BBC News

Comments

Post a Comment

Popular posts from this blog

South Pacific Update, Fiji: Inmate apologises in court for falsely identifying Tupou

-
Image
By  Nirupa Siwan Monday 05/09/2016  As according to The Fiji Village that the inmate who was allegedly raped by three inmates at the Suva Corrections Centre in 2012 has apologised in the Suva High Court that he made a mistake when he was asked to identify Sefton Tupou in court last week. Sefton Tupou who is representing himself, today asked the inmate if all the inmates at the Corrections Centre look the same when they wear the same uniform and why he had difficulty in identifying Tupou. The inmate told the court that he had hurriedly pointed to the wrong person when he was asked to identify Tupou. The inmate told the court that he was not in good terms with Sefton Tupou at the time of the incident but he was moved in the Yasi Dome in 2012. Tupou asked the inmate how would it be possible for him to see anyone who is behind him if his face was held down during the alleged incident. The inmate said that his eyes were open and he saw Tupou’s face. The 28
Read more

Hi there, A good read book for women "WHY MEN PULL AWAY"

-
Image
Hi There This book is very interesting, a good read why don't you have a try today. It is entitled "WHY MEN PULL AWAY". It is a step by step process of research and gathering empirical data that speaks for itself so that it can help women keep their men stick with them once and for all. Check it out!  Click here                                                                             
Read more

Step One: Visitors Welcome Back to Fiji

-
Image
            We have put the first step forward by saying we are welcoming tourists back-AG Minister for Economy Aiyaz Sayed-Khaiyum says it is critical for the Hospitality Sector to understand that once borders start opening and other tourism destinations have access to their former markets, they will try and grab as much as the market as possible. Sayed-Khaiyum says it is important that the tourism sector in Fiji recognizes what the government has announced today. He says they have put the first step forward by saying we are welcoming our tourists back Sayed-Khaiyum says Tourism Fiji is currently talking to a number of hotel properties to develop very attractive packages and he hopes that an announcement is made soon. He says they are putting their best step forward by taking into account the health risks, mitigating those risks and then putting in place an economic recovery framework. Source: fijivillage.com
Read more