FXStreet (Córdoba) – US stocks managed to post little gains on Monday following a batch of mixed economic reports, including personal income/spending and the ISM manufacturing index.
The Dow Jones Industrial Average rose 29.69 points, or 0.16%, to 18,040.37. The S&P 500 gained 4.35 points, or 0.21%, to 2,111.74, and the Nasdaq Composite climbed 12.9 points, or 0.25%, to 5,082.93.
On the data front, US personal income rose by 0.4% in April (0.3% exp), while personal spending was flat (+0.2%) expected. The PCE price index was also flat, while core PCE rose by 0.1%, slightly below the 0.2% expected. On annual basis, PCE rose 0.1% while the core index increased by 1.2%.
The Institute of Supply Management (ISM) manufacturing index rose to 52.8 in May from 51.5 and above the 52.0 expected. Meanwhile, US Markit manufacturing PMI for May came in at 54.0 slightly softer than the 54.2 expected but up from previous month’s 53.8 reading.
Investors are closely scrutinizing data releases looking for clues as to when the Fed may begin to raise interest rates.
Meanwhile the Greek drama continues, with latest reports suggesting the Big Five, Merkel, Hollande, Juncker, Lagarde and Draghi will meet in Berlin tonight to work on a proposal to avoid a default and a potential Grexit.
(Market News Provided by FXstreet)