Friday’s Midday Movers: 3 Stories Driving Markets
The major U.S. stocks were falling again heading into the weekend. As of noon:
|DIJA: -0.47% to 15,256.50||S&P 500: -0.42% to 1,691.60||NASDAQ: -0.11% to 3,783.44|
|Gold: +0.31 to 72.33||Oil: +0.41% to 24.5099||U.S. 10-Year: -1.06% to 26.15|
Here are three stories helping shape the market Friday afternoon.
1. Consumer Sentiment Sinks to a Five-Month Low: Due to a sluggish economy and recent actions in Washington, D.C., consumer sentiment dropped to a five-month low in September. According to Thomson Reuters/University of Michigan’s final reading, consumer sentiment plunged to 77.5 this month compared to August’s final reading of 82.1. It was the worst reading since April and the third-lowest since the beginning of the year.
During the last recession, the index averaged slightly above 64. In the five years before the financial crisis, it averaged almost 90. Consumer sentiment is one of the most popular measures of how Americans rate financial conditions and attitudes about the economy. The University of Michigan’s Consumer Survey Center questions 500 households each month for the index… (Read more.)