US markets mixed at month end
FXstreet.com (Barcelona) - US markets trade mixed after the release of the US consumer spending and the Chicago PMI in November. The S&P 500 is down by -0.03%, while the Nasdaq 100 sheds -0.08% and the Dow Jones Industrial Average gains +0.09%.
The US Chicago PMI expansionary but disappointing figure at 50.4 in November, coming from 49.9. Consensus was for 51.2. Also, RBC cut the US Q4 GDP (YoY) growth estimate from 1.0% to 0.2% based on weakening consumer spending in Q4 and the effects of Hurricane Sandy. Market consensus points to 1.7%.
Personal consumption expenditures in the US came in lower than expected (1.7% vs 1.8% consensus) in October (YoY), while the monthly change also disappointed (+0.1% vs +0.2% consensus). Personal spending contracted -0.2% in October, from +0.8% in the previous month.
European equities are closing generally higher on Friday, with the exception of the Spanish IBEX 35 and the Greek ATHEX. The German Parliament approved the revised Greek deal this morning and an EU official said he expects the Greek buyback process to begin next Monday. The rating agency Fitch revealed that US funds increased their exposure to Eurozone banks for the fourth month in a row.
The preliminary release of November CPI inflation report in the Eurozone came in much lower than expected, falling from 2.5% to 2.2%. Some analysts were estimating a softer figure after seeing the German data easing as well. The October EMU unemployment rate rose from 11.6% to 11.7% as expected.
The US Chicago PMI expansionary but disappointing figure at 50.4 in November, coming from 49.9. Consensus was for 51.2. Also, RBC cut the US Q4 GDP (YoY) growth estimate from 1.0% to 0.2% based on weakening consumer spending in Q4 and the effects of Hurricane Sandy. Market consensus points to 1.7%.
Personal consumption expenditures in the US came in lower than expected (1.7% vs 1.8% consensus) in October (YoY), while the monthly change also disappointed (+0.1% vs +0.2% consensus). Personal spending contracted -0.2% in October, from +0.8% in the previous month.
European equities are closing generally higher on Friday, with the exception of the Spanish IBEX 35 and the Greek ATHEX. The German Parliament approved the revised Greek deal this morning and an EU official said he expects the Greek buyback process to begin next Monday. The rating agency Fitch revealed that US funds increased their exposure to Eurozone banks for the fourth month in a row.
The preliminary release of November CPI inflation report in the Eurozone came in much lower than expected, falling from 2.5% to 2.2%. Some analysts were estimating a softer figure after seeing the German data easing as well. The October EMU unemployment rate rose from 11.6% to 11.7% as expected.
Free Annual Reports
