US stock indexes are supposed to fall today as futures pointing to a decline. The S&P 500 Index would most likely stop its seven month grow as investors await US data on consumer confidence and business activity.
S&P 500 futures fell by 0.5% as Dow Jones Industrial Average followed by 0.5% too. Yesterday the Standard & Poors 500 advanced as data missed estimates and job claims boosted confidence that Federal Reserve would not cut the stimulus bond-buying program anytime soon.
The same data released yesterday was accepted with mixed feelings from the investors. For some that means no stimulus reduction at least for a couple more months but at the same time its a negative information about US economic condition.
Despite recent negative data the University of Michigan final index of US showed the highest level of consumer confidence since 2007, according to Bloomberg.
The US tech sector has been driving benchmark indexes forward on the negative US Q1 GDP data yesterday. According to John Plassards statement in an interview for Bloomberg: “Investors are waiting for further clues about the development and the state of US economy”. The vice president at Mirabaud Securities Llp in Geneva also said “Yesterdays worse-than-expected data was good news for those who interpret it as further stimulus, but it was bad in terms of economic trend”.
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