FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo
Data on Friday showed U.S. consumer spending increased more than expected in July, though momentum is likely to ebb as the COVID-19 pandemic lingers and fiscal stimulus dries up with no sight of the next round of coronavirus relief package. “We’d like to see a sort of a broadening of ; that would indicate to us some greater confidence of market participants in the economic recovery,” Brenner said.
At 9:57 a.m. ET, the Dow Jones Industrial Average was up 77.58 points, or 0.27%, at 28,569.85, the S&P 500 was up 8.77 points, or 0.25%, at 3,493.32. The Nasdaq Composite was up 63.60 points, or 0.55%, at 11,688.94.
Futures rise but Main Street is dead.
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