Wall Street starts last session of the quarter on an upbeat note
Source - SMW
US stock markets started the last trading day of a volatile week and quarter higher, with oil prices on a northbound charge.
In economic news, personal income increased in May and outstripped a smaller increase in personal expenditure.
Shortly after the open, the Dow was up 0.51% at 21,396.37, the S&P 500 gained 0.4% to 2,429.44 and the Nasdaq rose by 0.32% to 6,163.95.
RISERS AND FALLERS
Nike was the standout riser on the Dow, its shares were 9.1% higher, while Fastenal, Sirius XM, Mattel, Liberty Global and Cintas were making steady progress on the Nasdaq. All shares were over 1% to the good.
At 2:45pm (GMT), WTI crude was 0.89% higher at $45.33 per barrel and Brent was up 0.65% at $47.73 per barrel. Gold was weaker, trading at around $1,242 per ounce.
Personal income in the US increased $67.1bn (0.4%) in May according to estimates released today by the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $7.3bn (0.1%) and the PCE price index excluding food and energy - the so-called core PCE prices index - rose by 0.1%.
In addition, the Chicago Institute for Supply Management's purchasing managers' index increased to 65.7 Index Points in June from 59.4 Index Points in May.
Revised inflation expectation and consumer sentiment figures are due from the University of Michigan later today.