Wall Street down at open amid economic data

Friday, 30. September 2022 15:32

Major stock exchanges on Wall Street opened on Friday recording losses, extending the negative trend from the previous trading session.

Investors digested the latest report on the country's personal consumption expenditures (PCE) that revealed the price index rose by 6.2% annually, with the Federal Reserve closely monitoring the index change to determine future steps in stabilizing the economy. The University of Michigan is yet to publish consumer sentiment data.

The Dow Jones Industrial Average was down by 0.12% and the S&P 500 fell by 0.10% as Nike Inc., their worst performer, sank by 12.50% after the company revealed its quarterly earnings report yesterday.

The Nasdaq 100 decreased by 0.08% with Lululemon Athletica Inc. pushing the index down by 6.88%. The euro slumped against the American currency by 0.73%, to change hands to $0.97448 at 9:27 am ET.

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Author:
Baha Breaking News (BBN) / AB