Gary continues to be under the weather – and Econintersect is therefore providing the market open from our syndication partner Investing.com:
European stocks were mixed Friday, after euro zone inflation data came in in line with expectations, while Thursday’s better-than-expected U.S. economic reports continued to lead global equities higher.
During European afternoon trade, the EURO STOXX 50 inched 0.01% higher, France’s CAC 40 dipped 0.01%, while Germany’s DAX 30 added 0.22%.
Official data showed that consumer price inflation in the euro zone remained unchanged in May at an annualized rate of 1.4%, in line with expectations.
U.S. stocks open higher on Friday, even as a string of U.S. economic reports painted a mixed picture of the strength of the U.S. economic recovery, adding to uncertainty over the future of the Federal Reserve’s stimulus program.
During early U.S. trade, the Dow Jones Industrial Average added 0.13%, the S&P 500 index edged up 0.16%, while the Nasdaq Composite index inched 0.01% higher.
In a preliminary report, the University of Michigan said its consumer sentiment index fell to 82.7 in June, from a reading of 84.5 the previous month. Analysts had expected the index to remain unchanged.
A separate report showed that industrial production in the U.S. was flat in May, confounding expectations for a 0.2% rise, after a 0.4% fall the previous month.
However, official data earlier showed that U.S. producer price inflation, including food and energy, rose 0.5% in May, beating expectations for a 0.1% rise, after a 0.7% decline the previous month.
Core producer price inflation rose 0.1% last month, in line with expectations, after a 0.1% gain in April.
Global Markets at 0945 EDT