U.S. stocks close mixed amid consumer data
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E-mail Xinhua, August 31, 2019
NEW YORK, Aug. 30 (Xinhua) -- U.S. stocks closed mixed on Friday, wrapping up the week in a tepid note, as investors digested a batch of mixed data on consumer activities.
The Dow Jones Industrial Average rose 41.03 points, or 0.16 percent, to 26,403.28. The S&P 500 increased 1.88 points, or 0.06 percent, to 2,926.46, while the Nasdaq Composite Index declined 10.51 points, or 0.13 percent, to 7,962.88.
The majority of the 30 blue-chip stocks in the Dow extended gains around market close, with shares of trade-sensitive Intel up 1.15 percent, leading the gainers.
Shares of widely-acknowledged trade barometers Caterpillar and Boeing also rallied 1.04 percent and nearly 0.4 percent, respectively, among the best performers in the benchmark tally.
Six of the 11 primary S&P 500 sectors traded higher around market close, with the materials sector up nearly 0.6 percent, leading the winners.
Shares of Dell Technologies surged nearly 10.18 percent, after the tech giant reported second-quarter earnings that topped market expectations, driven by strong sales of its computer products.
On the economic front, U.S. consumer confidence retreated sharply in August, dampened by persisting fears over escalation in tariffs and trade war.
The University of Michigan's consumer sentiment index declined to 89.8 for August, marking its largest monthly decline since December 2012, the university said in its monthly survey on Friday.
Personal consumption expenditures (PCE), a key measure of U.S. household spending, rose 0.6 percent to 93.1 billion U.S. dollars in July, boosted by spending in recreational goods and vehicle, as well as household electricity and gas, the Bureau of Economic Analysis reported on Friday.
Personal income increased 0.1 percent to 23.9 billion dollars last month, and disposable personal income went up by 0.3 percent to 44.4 billion dollars.
"The increase in personal income in July primarily reflected increases in compensation of employees and government social benefits to persons that were partially offset by a decrease in personal interest income," the bureau said in a report. Enditem
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