NEW YORK - Stocks posted modest gains on Friday and the dollar dipped ahead of a meeting on trade between U.S. President Donald Trump and Chinese President Xi Jinping, as global equities were poised to cap off their best first half since 1997.
Economic data on Friday showed U.S. consumer spending increased moderately in May and prices rose slightly, pointing to slowing economic growth and benign inflation pressures, which could give the Federal Reserve enough leeway to cut interest rates in July. “I continue to believe this is an asymmetrical risk – that the upside here is a couple percent the downside is a whole lot more than that if it falls apart.”
The pan-European STOXX 600 index rose 0.54% and MSCI’s gauge of stocks across the globe gained 0.23%.
Wow.. Hall of famer Dilip Patel is still down there