Stocks Opened Little Changed after Consumer Data

Stocks opened little changed on Monday, after the report that showed US consumer spending edged up in June despite solid rise in personal incomes. The Dow industrials lately fell 38.85 points, or 0.22%, to 17,651.01. The S&P 500 was off 0.21 point, or 0.01%, to 2,103.63. The Nasdaq Composite rose 14.17 points, or 0.28%, to 5,142.45.

American consumers are the most confident in years. Consumer spending rose a modest 0.2% in June, one month after outlays rose at the fastest pace in a year and a half. Personal income climbed 0.4% in June for the third straight month.

Sears Holdings Corp. said Monday that a gain from the spinoff of some of its real estate will likely drive its first profit in three years, though the retailer said sales continued to slide in its second quarter. For the period ended Aug. 1, Sears said it expects to post a profit of $1.46 to $1.92 a share.

Fiat Chrysler Automobiles said Monday that its U.S. auto sales rose 6.2% in July on continued strength in its Jeep and Chrysler brands, while Nissan Motor Co.’s 7.8% increase drove U.S. sales for the month to a record.

About the Author

has written 15527 stories on this site.

Write a Comment

Gravatars are small images that can show your personality. You can get your gravatar for free today!

You must be logged in to post a comment.

Copyright © 2012 Nine Stocks