U.S. Index Futures Rise Before Economic Data; RIM Drops on Sales Forecast
June 17 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks snapped a six-week decline as European leaders moved closer to a compromise on a financial rescue for Greece and an index of leading American economic indicators advanced more than forecast. Bloomberg's Pimm Fox also reports.
Economic Indicator Forecast - News
US stocks snapped a six-week decline as European leaders moved closer to a compromise on a financial rescue for Greece and an index of leading American economic indicators advanced more than forecast. 's Pimm Fox also reports.
(Source: ) The index of US leading indicators rose more than forecast in May after declining for the first time in almost a year, a sign economic growth may pick up by the end of 2011. The Conference Board's gauge of the outlook for the next
The report is a combination of 10 economic indicators out of the US economy. It tends to have little effect, however, as the data which comprises the index is released earlier in the month. It is designed to forecast the direction of the US economy
Taking the unexpected soft patch into account, the International Monetary Fund cut its forecast for economic growth in the United States, warning Washington and debt-ridden European countries that they were “playing with fire” unless they took
US stocks rallied and benchmark indexes were set to halt a six-week drop as a gauge of economic indicators topped forecasts, helping the market extend an early gain spurred by signs of progress on a
US stocks rally on stronger economic indicators
New York - Two of Wall Street's three major indices rallied Friday, prodded out of a six-week drop by an upbeat economic forecast.
The US index of leading economic indicators, a key outlook of possible growth in the months ahead, rose in May after a drop in April, the New York-based Conference Board, a private research group, said.
Its group of indicators rose 0.8 per cent in May, following a 0.4-per-cent drop in April. The rise beat expectations of economists in a Bloomberg news survey, who had only anticipated a 0.3-per-cent gain.
The leading indicators have steadily improved since July 2010, with the exception of April's dip.
The blue-chip Dow Jones Industrial Average rose 42.84 points, or 0.36 per cent, 12,004.36. The broader Standard and Poor's 500 Index gained 3.86 points, or 0.3 per cent, to 1,271.5. The technology-heavy Nasdaq Composite Index slipped 7.22 points, or 0.28 per cent, to 2,616.48.
The US currency fell to 69.9 euro cents from 70.44 euro cents on Thursday. The dollar was off against the Japanese currency to 80.05 yen from 80.62 yen on Thursday.
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