Investing.com - U.S. stocks opened Friday’s trading session mixed as stronger than expected consumer spending counteracted the controversial capping of the euro zone rescue package at EUR500 billion.
At the open of U.S. trade, the Dow Jones Industrial Average gained 0.36%, the S&P 500 fell 0.16%, while the Nasdaq Composite added 0.47%.
Official data indicated U.S. consumer spending grew by 0.8% in February, beating the median estimate of 0.6% fuelling the stock advance.
European leaders agreed to cap rescue funds at EUR500 billion after a German led coalition opposed further expansion of the debt firewall dampening equity enthusiasm.
The debt firewall was expected to be EUR800 billion, leading to speculation that the agreed amount falls short of the needed amount to stem the crisis.
In Spanish news, Prime Minister Mariano Rajoy will announce the most austere budget since before the nation’s return to democracy in 1978
Spain risks a deeper recession in an attempt to avoid suffering from the regions debt crisis
Helping stocks climb, U.S. consumer purchases climbed 0.6% in February, after a 0.2% gain the previous month.
Bank of America added 0.8% on the upbeat domestic data.
McMoRan Copper & Gold, Mosiac, and U.S. Steel added at least 1.2% at the open on climbing commodity prices.
Research in Motion, the maker of the Blackberry PDA, gained 2.1% after announcing its plans to refocus o n the business market due to struggles against Apple and Android devices in the consumer space.
In mid European trade, the EURO STOXX 50 gained 1.02%, France's CAC 40 added 1.35%, while Germany’s DAX traded higher by 1.07%. Meanwhile, in the U.K. the FTSE 100 climbed 0.64%.
At the open of U.S. trade, the Dow Jones Industrial Average gained 0.36%, the S&P 500 fell 0.16%, while the Nasdaq Composite added 0.47%.
Official data indicated U.S. consumer spending grew by 0.8% in February, beating the median estimate of 0.6% fuelling the stock advance.
European leaders agreed to cap rescue funds at EUR500 billion after a German led coalition opposed further expansion of the debt firewall dampening equity enthusiasm.
The debt firewall was expected to be EUR800 billion, leading to speculation that the agreed amount falls short of the needed amount to stem the crisis.
In Spanish news, Prime Minister Mariano Rajoy will announce the most austere budget since before the nation’s return to democracy in 1978
Spain risks a deeper recession in an attempt to avoid suffering from the regions debt crisis
Helping stocks climb, U.S. consumer purchases climbed 0.6% in February, after a 0.2% gain the previous month.
Bank of America added 0.8% on the upbeat domestic data.
McMoRan Copper & Gold, Mosiac, and U.S. Steel added at least 1.2% at the open on climbing commodity prices.
Research in Motion, the maker of the Blackberry PDA, gained 2.1% after announcing its plans to refocus o n the business market due to struggles against Apple and Android devices in the consumer space.
In mid European trade, the EURO STOXX 50 gained 1.02%, France's CAC 40 added 1.35%, while Germany’s DAX traded higher by 1.07%. Meanwhile, in the U.K. the FTSE 100 climbed 0.64%.