All three major indices opened down slightly this morning, but moved up following reports on unemployment, consumer spending, and durable goods orders. None of these was especially sunny, but all more or less met expectations. Excluding declining airplane orders, non-defense capital goods orders rose 2.6%. Unemployment claims fell by 3,000, and consumer spending in November rose 0.4% and wages gained 0.3%. Volume is low as traders skedaddle early for the long holiday weekend. On the currency markets, the EUR fell to $1.3064 earlier, but recovered somewhat to above $1.31. The Australian dollar has again broken through parity with the US dollar for the first time in six weeks.
Here are the numbers for late afternoon trading today:
S&P 500
Continue reading Closing Bell: Markets Open Lower, Move Higher After Data Dump
Closing Bell: Markets Open Lower, Move Higher After Data Dump originally appeared on BloggingStocks on Thu, 23 Dec 2010 16:00:00 EST. Please see our terms for use of feeds.
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