Markets Show Lukewarm Reaction to Strong Spending Data
The major U.S. index futures are pointing to a higher opening on Tuesday, with sentiment remaining positive after the major averages ran up to 1-month highs last week. With the markets re-opening after the Memorial Day holiday, activity in the markets could slowly pick up. A domestic report released short while ago showed that personal spending rose robustly in April and personal income growth was in line. Commodities are weaker although the dollar has given back some ground. The domestic markets could also stay tuned to reports on regional business activity and consumer confidence.
5/31/2016 12:01:40 PM Stocks continue to turn in a lackluster performance in mid-day trading on Tuesday after initially showing a lack of direction. The modest moves on the day come on the heels of the strong upward move that was seen last week.