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US stocks flat after confidence data

By FXstreet.com,  August 17, 2012, 10:56:00 AM EDT

FXstreet.com (Córdoba) - US stocks open modestly higher on Friday but then turned flat despite positive economic data, including improvement in consumer sentiment for August.

The Dow Jones industrial average gained less than a point, or 0.01%, to 13,250. The S&P 500 Index was flat at 1,414. The Nasdaq Composite rose 0.60 points, or 0.04%, to 3,062.

In the macroeconomic domain, US consumer confidence improved in August, with the Thomson-Reuters/University of Michigan consumer sentiment index rising to 73.6 from 72.3 at the end of July. Meanwhile, the Conference Board's index of leading indicators for July rose more than expected.

European markets traded higher, with the Stoxx Europe 600 up 0.5%, as sentiment was boosted by German Chancellor Angela Merkel's comments about her commitment to preserve the euro.

Gold dropped 0.2% to $1,615.90 an ounce, while crude-oil futures eased 0.3% to $95.33 a barrel.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



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