Investing.com - U.S. stocks opened higher Friday as producer price inflation increases combined with strong consumer confidence numbers triggering the bullish sentiment
At the open of U.S. trade Friday, the Dow Jones Industrial Average gained 0.24%, the S&P 500 index climbed 0.02%, while the Nasdaq Composite index advanced 0.16%.
Sparking the bullish buying, U.S. UoM consumer sentiment rose unexpectedly last month, preliminary data showed on Friday.
In a report, the University of Michigan said that consumer sentiment rose to a seasonally adjusted 83.1, from 78.3 in the preceding month.
Analysts had expected UoM consumer sentiment to fall to 78.0 last month.
Meanwhile, U.S. producer price inflation rose more-than-expected last month, official data showed on Friday.
In a report, U.S Bureau of Labor Statistics - Department of Labor said that U.S. PPI rose to a seasonally adjusted 1.1%, from 1.7% in the preceding month.
Analysts had expected U.S. PPI to rise 0.7% last month.
Financial shares traded down at the open with JP Morgan off by 1.6% despite beating estimates and Wells Fargo plunged 4% after missing revenue estimates.
Chip maker Intel climbed 0.08% despite lowering forecasts. JP Morgan climbed 0.03% after calling its trading loss modest.
In mid European trade, the EURO STOXX 50 added 0.18%, France’s CAC 40 climbed 0.14%, while Germany’s DAX 30 pushed higher by 0.08%.
At the open of U.S. trade Friday, the Dow Jones Industrial Average gained 0.24%, the S&P 500 index climbed 0.02%, while the Nasdaq Composite index advanced 0.16%.
Sparking the bullish buying, U.S. UoM consumer sentiment rose unexpectedly last month, preliminary data showed on Friday.
In a report, the University of Michigan said that consumer sentiment rose to a seasonally adjusted 83.1, from 78.3 in the preceding month.
Analysts had expected UoM consumer sentiment to fall to 78.0 last month.
Meanwhile, U.S. producer price inflation rose more-than-expected last month, official data showed on Friday.
In a report, U.S Bureau of Labor Statistics - Department of Labor said that U.S. PPI rose to a seasonally adjusted 1.1%, from 1.7% in the preceding month.
Analysts had expected U.S. PPI to rise 0.7% last month.
Financial shares traded down at the open with JP Morgan off by 1.6% despite beating estimates and Wells Fargo plunged 4% after missing revenue estimates.
Chip maker Intel climbed 0.08% despite lowering forecasts. JP Morgan climbed 0.03% after calling its trading loss modest.
In mid European trade, the EURO STOXX 50 added 0.18%, France’s CAC 40 climbed 0.14%, while Germany’s DAX 30 pushed higher by 0.08%.