Investing.com - U.S. stocks opened the session higher Friday, as traders anticipate bullish economic data to be released later in the session.
At the open of U.S. trade, the Dow Jones Industrial Average gained 0.02%, the S&P 500 moved higher by 0.08%, while the Nasdaq Composite eased higher by 0.03%.
Equity sentiment was strengthened on anticipation that industrial production at U.S. factories, mines and utilities increased 0.4% prior to the official data being released later in today.
In addition, the Thomson Reuters/University of Michigan preliminary index of consumer sentiment is expected to hit a one year high of 76 in March adding to the greenback’s bullishness. The actual report will be released later in the session.
Worries that the European Central Bank may refrain from taking further action to fight Europe’s debt crisis, despite inflation nearing its 2% limit even as the economy contracts helped cap stock gains.
The ECB stated in its monthly bulletin yesterday inflation is likely to stay above 2% with prevailing upside risk, increasing euro zone worries.
Sparking the equity rally, investors reduced expectations for additional monetary easing after the Fed upgraded its outlook for the economy during the rate statement Tuesday.
Commodity and energy shares led the gains with Dow Chemical and Freeport-McMoran both adding more than 1.1%.
Bank of America continued its rally climbing another 1.6% after surging 16% in the last 3 trading sessions.
Apple slipped lower by 1% despite starting to sell its new iPad Friday
In mid European trade, the EURO STOXX 50 gained 0.28%, France's CAC 40 added 0.18%, while Germany’s DAX advanced 0.14%. Meanwhile, in the U.K. the FTSE 100 traded up by 0.25%.
At the open of U.S. trade, the Dow Jones Industrial Average gained 0.02%, the S&P 500 moved higher by 0.08%, while the Nasdaq Composite eased higher by 0.03%.
Equity sentiment was strengthened on anticipation that industrial production at U.S. factories, mines and utilities increased 0.4% prior to the official data being released later in today.
In addition, the Thomson Reuters/University of Michigan preliminary index of consumer sentiment is expected to hit a one year high of 76 in March adding to the greenback’s bullishness. The actual report will be released later in the session.
Worries that the European Central Bank may refrain from taking further action to fight Europe’s debt crisis, despite inflation nearing its 2% limit even as the economy contracts helped cap stock gains.
The ECB stated in its monthly bulletin yesterday inflation is likely to stay above 2% with prevailing upside risk, increasing euro zone worries.
Sparking the equity rally, investors reduced expectations for additional monetary easing after the Fed upgraded its outlook for the economy during the rate statement Tuesday.
Commodity and energy shares led the gains with Dow Chemical and Freeport-McMoran both adding more than 1.1%.
Bank of America continued its rally climbing another 1.6% after surging 16% in the last 3 trading sessions.
Apple slipped lower by 1% despite starting to sell its new iPad Friday
In mid European trade, the EURO STOXX 50 gained 0.28%, France's CAC 40 added 0.18%, while Germany’s DAX advanced 0.14%. Meanwhile, in the U.K. the FTSE 100 traded up by 0.25%.