Wall Street opens mostly higher
2018-05-16 14:40:34 GMT (Economies.com)
Wall Street opens mostly higher

US stock indices opened the third session of the week higher after a spate of data from the world's largest economy, and amid a final trickle of first-quarter earnings results for major American corporations. 

 

Earlier US data showed housing starts fell 1.8% in April to an annualized 1.352 million units, compared to a 4.1% rise in March to 1.377 million, while analysts expected a 2.1% dip to 1.350 million. 

 

Building permits fell 3.7% to 1.287 million, compared to a 3.6% rise to 1.336 million in March, while analysts expected a 0.7% dip to 1.310 million. 

 

Federal Reserve Bank of Atlanta President Raphael Bostic spoke earlier about the economic outlook at the Augusta Cotton Exchange, where he pointed to Fed's uncertainty on how will US companies respond to tax cuts, with most polls so far indicating corporations aren't changing their spending plans in 2018. 

 

Bostic said consumer spending is strong but still not at its peak, expressing otherwise his support for three rate hikes this year, while pointing to the 3.9% unemployment rate as extremely low. 

 

US industrial production rose 0.7% in April, same as March and beating expectations of a slowdown in growth to 0.6%. 

 

The Capacity Utilization Rate rose to 78% in April from 77.6% in March, missing forecasts of 78.4%. 

 

As of 02:13 GMT, Standard and Poor's 500 rose 0.16%, or 44.3 points to 2,715.88, while Dow Jones inched up 0.03%, or 8.43 points to 24,714.84. 

 

Tech-heavy NASDAQ added 0.31%, or 22.91 points to 7,374.54. 

 
 
 
  Symbol Last Change Chg.%
1.1728
0.0035
0.3010%
1.3134
-0.0097
0.7324%
15.522
-0.292
1.850%
68.370
-2.192
3.107%
73.10
0.51
0.70%
1230.700
-10.410
0.839%
 
 
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Europe
 
Asia