Pre-open:
Aug. 29 (Bloomberg) -- Spending by U.S. consumers slowed in July as the impact of the tax rebates faded and a pickup in inflation eroded Americans' buying power.
The 0.2 percent rise in purchases matched forecasts and followed a 0.6 percent increase in June, the Commerce Department said today in Washington. Prices rose by the most in 17 years.
Oil is also catching a bid as the reality of the storm hits home.
ES is still holding the 1292 level, the one to watch. Bonds are in the red, which is normally supportive of equities, but watch the 3.85% area.
Aug. 29 (Bloomberg) -- Spending by U.S. consumers slowed in July as the impact of the tax rebates faded and a pickup in inflation eroded Americans' buying power.
The 0.2 percent rise in purchases matched forecasts and followed a 0.6 percent increase in June, the Commerce Department said today in Washington. Prices rose by the most in 17 years.
Oil is also catching a bid as the reality of the storm hits home.
ES is still holding the 1292 level, the one to watch. Bonds are in the red, which is normally supportive of equities, but watch the 3.85% area.
This entry was posted
on Friday, August 29, 2008 at 8/29/2008 09:22:00 AM.
You can skip to the end and leave a response.
» Post a Comment