(MENAFN– ecpulse)
The U.S local stock market fluctuated throughout the US session after two days of gains that sent the Standard & Poor’s 500 Index to within five points of a record high, as investors awaited this week’s data on economic growth and employment.
In fact the focus this week will turn to U.S. third-quarter GDP and payrolls data.
The U.S. economy may have grew an annualized 2 percent in the quarter through June, following a 2.5 percent expansion in second quarter.
Another report may show that payrolls soared by 125,000 workers last month after a 148,000 gain in September.
The Fed kept its monthly bond purchases at $85 billion a month, amid expectations that stimulus taper would not start before March next year as recovery has to strengthen more to propel policymakers to halt stimulus.
However today showed that the U.S services activities expand at a slightly faster-than-projected pace this past month, which was actually not predicted by the market to accordingly stimulate some optimism regarding the present economic performance of the superpower and confirm once again that business conditions keep on supporting the growth of the country.
If truth be told the ISM services of January; a composite diffusion index regarding the services sector conditions across the United States, which was highly forecasted to come out at around 54.0 came out cheerfully instead at 55.4 from actually a lower prior reading of 54.4..
As of 16:15 EST, Dow Jones shed by 0.01% to 15637.90 points, and NASDAQ climbed by 0.21% to 3944.77 points.
Standard and Poor’s declined by 0.07% to reach 1766.78 points, as of 16:15 EST.
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