U.S. stocks open lower amid economic data
Xinhua, March 31, 2017 Adjust font size:
U.S. stocks opened lower Friday as investors meditated on a batch of economic reports.
U.S. personal income increased 57.7 billion U.S. dollars, or 0.4 percent in February, in line with market consensus, according to estimates released Friday by the Commerce Department.
In February, personal consumption expenditures (PCE) increased 7.4 billion dollars, or 0.1 percent, slightly below market expectations of 0.2 percent.
In 2016, personal income increased 3.6 percent compared with an increase of 4.4 percent in 2015, while personal consumption expenditure increased 3.9 percent compared with an increase of 3.5 percent in 2015.
The PCE price index rose 2.1 percent year over year, while core PCE price index, excluding food and energy, increased 1.8 percent from last year.
Shortly after the opening bell, the Dow Jones Industrial Average fell 32.10 points, or 0.15 percent, to 20,696.39. The S&P 500 lost 3.69 points, or 0.16 percent, to 2,364.37. The Nasdaq Composite Index decreased 10.01 points, or 0.17 percent, to 5,904.34.
On Thursday, U.S. stocks ended higher, with the Nasdaq setting a new closing record, as Wall Street digested the country's better-than-expected revised economic growth data. Endi