Consolidation Likely Ahead of Long Weekend
The major U.S. index futures are pointing to a slightly lower opening on Friday, with sentiment reflecting nervousness of traders in the final trading session of the week ahead of Monday’s Memorial Day holiday. The dollar is back on its way higher following the release of the consumer price inflation report, which showed a bigger than expected rise in core consumer prices. Commodities are trading lower. The mood across the Atlantic is mixed, as traders digest the German GDP and business sentiment data. The domestic markets, which trade in overbought zone, may go about a consolidation move ahead of the long weekend.
5/22/2015 4:14:17 PM U.S. stocks were generally lower Friday after hawkish remarks from Federal Reserve Chair Janet Yellen, who said the central bank will likely raise interest rates this year, as long as economic activity picks up.