Wall Street opens higher on consumer reports

Friday, 28. May 2021 15:31

United States major stock markets opened higher on Friday amid growing optimism over the economic recovery. Personal spending in the US rose 0.5% in April to $80.3 billion. The key inflation indicator - core personal consumption index, excluding food and energy, grew by 3.1%, which is faster than expected, but not too high to signal an overheating economy.

US trade deficit fell 7.3% to $85.2 billion as exports grew by $1.7 billion and imports increased by $5.1 billion. Meanwhile, on the earnings front, Salesforce revealed positive financial results with a 23% surge in revenue, while HP published an increase in revenue of 27.3%.

Dow Jones opened with 0.48% in the green, while the S&P 500 gained 0.34%, both led by Salesforce jumping 5.73%. The Nasdaq 100 grew by 0.33% as DexCom surged by 3.79%. The euro declined by 0.42% against the dollar to trade for $1.21445 at 9:29 am ET.

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Breaking the News / LH