FXstreet.com (Córdoba) - US stocks fell on Friday as
disappointing China's GDP and a decline in US consumer confidence
weighed on sentiment, offsetting strong earnings from Google, JP
Morgan and Wells Fargo.
The Dow Jones Industrial Average fell 101 points, or 0.78%, to
12,885. The S&P 500 lost 12 points, or 0.92%, to 1,374. The
Nasdaq Composite dropped 36 points, or 1.2%, to 3,018.
In the macroeconomic domain, US consumer prices rose in line with
expectations. The consumer price index climbed to a seasonally
adjusted 0.3% from February, while core prices, which exclude food
and energy, rose 0.2%. Meanwhile, the University of Michigan gauge
of consumer sentiment dropped to 75.7 in April, below the 76.2
Fed Chairman Ben Bernanke will speak on the financial crisis and
the policy response at 17:00GMT where traders will look for signals
about the possibility for additional monetary easing.
European markets were broadly lower, with the Stoxx Europe 600
falling 1.6% after data showed Spanish bank borrowing from the ECB
surged to new highs in March. Spain's 10-year yields rose to 5.98%.
Gold slid 0.8% to $1,666 an ounce, while crude oil futures fell
0.7% to $102.90 a barrel.