US stocks rise as survey indicates declining inflation expectations
US stocks rose on Friday, ending an upbeat end to a disappointing week, as strong retail sales data and a survey suggesting inflation expectations eased concerns about the economic outlook. The SP 500 finished the day 1.9 percent higher, but remained down nearly 1 percent for the week. The technology-focused Nasdaq Composite is up 1.8 percent, but down 1.6 percent for the week. The European stock index Stoxx 600 closed up 1.8 per cent. International benchmark Brent crude, which fell on Thursday to levels last seen before Russia’s invasion of Ukraine, added 2.1 percent to settle at $101.16 a barrel. There was little reaction in late afternoon dealings to US President Joe Biden’s speech during His trip to Saudi Arabia . Friday’s data showed US retail sales rose 1 percent month-on-month in June, topping economists’ expectations for a 0.8 percent gain. Separately, the University of Michigan is closely watching Consumer Confidence Index He noted that medium-term inflation expectations have fallen to a one-year low of 2.8 percent.
US stocks rise as survey indicates declining inflation expectations
US stocks rose on Friday, ending an upbeat end to a disappointing week, as strong retail sales data and a survey suggesting inflation expectations eased concerns about the economic outlook. The SP 500 finished the day 1.9 percent higher, but remained down nearly 1 percent for the week. The technology-focused Nasdaq Composite is up 1.8 percent, but down 1.6 percent for the week. The European stock index Stoxx 600 closed up 1.8 per cent. International benchmark Brent crude, which fell on Thursday to levels last seen before Russia’s invasion of Ukraine, added 2.1 percent to settle at $101.16 a barrel. There was little reaction in late afternoon dealings to US President Joe Biden’s speech during His trip to Saudi Arabia . Friday’s data showed US retail sales rose 1 percent month-on-month in June, topping economists’ expectations for a 0.8 percent gain. Separately, the University of Michigan is closely watching Consumer Confidence Index He noted that medium-term inflation expectations have fallen to a one-year low of 2.8 percent.