The S&P 500 Index slipped 0.2 percent to 2,126.73 at 9:35 a.m. in New York, after closing Thursday at a record. Markets are closed Monday for the Memorial Day holiday.
A report Friday showed the cost of living excluding food and fuel rose at a faster pace than expected in April, indicating inflation is inching toward the Fed’s goal. Fed Chair Janet Yellen is due to discuss the outlook for the economy at 1:00 p.m., as mixed economic reports have prompted investors to push back estimates for when the Fed will begin raising rates, helping to drive equities to all-time highs.
The core consumer-price index climbed 0.3 percent, the biggest gain since January 2013, according to the Labor Department. The median forecast of economists surveyed by Bloomberg called for a 0.2 percent advance.
Reports Thursday showed sales of existing homes in April unexpectedly dropped, after the March pace was the strongest in almost two years. A series of factory reports yesterday indicated the industry remains tepid this month against a backdrop of weaker global growth and a strong dollar.
Sumber : www.ewfpro.com
