U.S. stocks rise due to a Consumer Confidence in February

Stocks Close Higher as Consumer Sentiment, Fed Boost Confidence

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  • U.S. stocks rise due to Consumer Confidence rising in February exceeding expectations. Consumer Sentiment Index rose to 81.6 in February from 81.2 in the prior month, beating expectations for a result of 81.3.
  • January pending homes sales disappointed, edging up 0.1% to 95.0 against expectations for a 2% gain. Poor weather was a factor, according to the National Association of Realtors.
  •  The government on Friday cut its estimate of U.S. growth in the waning months of 2013, mainly because consumers did not spend quite as much as originally reported. The U.S. economy expanded at a 2.4% annual pace in the fourth quarter instead of 3.2% as originally reported.
  • The huge drop today was because Ukraine accused Russia of sending 2,000 troops to Crimea, which shows growing tension and possibly might hurt the global economy. But before closing U.S. managed to close green.
  • The Dow Jones Industrial Average increased 0.3% to 16,321.90, while the S&P 500 was 0.28% higher at 1,859.45. The Nasdaq slid 0.25% to 4,308.12.

Categories: Equity Capital Markets

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