Wall St Mixed After Consumer Sentiment Data.
Stocks on Wall Street were still moving mixed on Friday after data
showed the U.S. consumer sentiment fell to its lowest level 1-year,
which
offset some positive corporate earnings reports.
The Dow Jones Industrial Average posted an increase of about 10 points
to stay in the green zone, with GE shares recorded the strongest
performance among blue-chip stocks. While the S & P 500 and Nasdaq
Composite had slipped into negative territory, with each lost
0.05% and 0.15%.
U.S. consumer sentiment recently released University of Michigan / Thomson Reuters fell to 71.3 in January from 72.9 in the previous month, which dispelled the expected rise to 75.0 from economists. In terms of earnings, General Electric managed to record earnings and revenue above estimates in the 4 th quarter of last year. One component of the Dow is benefiting from the growth in China and other countries that are rich in resources. The banking giant Morgan Stanley also managed to exceed expectations triggered by surging sales of equity earnings, and strong margin growth in the asset management business.
U.S. consumer sentiment recently released University of Michigan / Thomson Reuters fell to 71.3 in January from 72.9 in the previous month, which dispelled the expected rise to 75.0 from economists. In terms of earnings, General Electric managed to record earnings and revenue above estimates in the 4 th quarter of last year. One component of the Dow is benefiting from the growth in China and other countries that are rich in resources. The banking giant Morgan Stanley also managed to exceed expectations triggered by surging sales of equity earnings, and strong margin growth in the asset management business.
Oil slips after fall in U.S. confidence index
Oil fell in New York session, slashed consecutive weekly gain in 14 months, after U.S. consumer sentiment indicator unexpectedly fell and the euro extended the reprieve on comments from European Central Bank officials. Oil futures fell as much as 0.6 percent as data from Thomson Reuters / University of Michigan index of consumer at the beginning of January fell to 71.3 compared to 72.9 in the previous month. Previous data is expected to rise menjai 75, according to the median forecast of 74 economists surveyed by Bloomberg. The euro slipped from its highest level against the dollar since February.
"The market will move back and forth on economic indicators," said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. "Strengthening dollar will likely push for profit-taking."
Oil fell in New York session, slashed consecutive weekly gain in 14 months, after U.S. consumer sentiment indicator unexpectedly fell and the euro extended the reprieve on comments from European Central Bank officials. Oil futures fell as much as 0.6 percent as data from Thomson Reuters / University of Michigan index of consumer at the beginning of January fell to 71.3 compared to 72.9 in the previous month. Previous data is expected to rise menjai 75, according to the median forecast of 74 economists surveyed by Bloomberg. The euro slipped from its highest level against the dollar since February.
"The market will move back and forth on economic indicators," said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. "Strengthening dollar will likely push for profit-taking."
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