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1 Mar 2013
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%.
Beginning with the indices and composites, the NASDAQ fell -0.74% as it settles in region of 3136.86, down -23.24 points in these moments. In addition, the S&P 500 is trading in negative territory, operating at 1506.31, descending -8.37 points or -0.55% at the time of writing. Finally, the Dow Jones has moved lower at the opening, trading in the zone of 13945.69, presently -0.77% after a movement of -108.90 points.
Sectors are nearly all in the green currently, however the Basic Materials and Energy sectors have distinguished themselves as main losers thus far, falling -1.02% and -1.01% respectively. In other news, the price of crude has settled below USD $90.61/bbl Friday.
Beginning with the indices and composites, the NASDAQ fell -0.74% as it settles in region of 3136.86, down -23.24 points in these moments. In addition, the S&P 500 is trading in negative territory, operating at 1506.31, descending -8.37 points or -0.55% at the time of writing. Finally, the Dow Jones has moved lower at the opening, trading in the zone of 13945.69, presently -0.77% after a movement of -108.90 points.
Sectors are nearly all in the green currently, however the Basic Materials and Energy sectors have distinguished themselves as main losers thus far, falling -1.02% and -1.01% respectively. In other news, the price of crude has settled below USD $90.61/bbl Friday.