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Stocks mixed with spending up
NEW YORK, (UPI) -- U.S. stocks were mixed Monday after the Commerce Department said consumer spending rose modestly in May.
After lying flat a month ago, spending among consumers rose 0.2 percent in May, while incomes rose 0.4 percent and prices declined less than 0.1 percent.
The Group of 20 summit ended Sunday with world leaders pledging to reduce government debt.
Contrary to G20 meeting a year ago, when stimulus spending was the order of the day, leaders in Toronto agreed to reduce public debt in half by 2013 and to stabilize their budgets by 2016.
In early afternoon trading, the Dow Jones industrial average was virtually flat, up 1.89 or 0.02 percent to 10,145.70. The Standard & Poor's 500 index lost 0.84 or 0.08 percent to 1,075.92. The Nasdaq composite index rose 1.82 or 0.08 percent to 1,075.92.
The benchmark 10-year Treasury note rose 19/32 to yield 3.04 percent.
The euro fell to $1.2283 from Friday's $1.2386. Against the yen, the dollar rose to 89.435 yen from Friday's 89.27 yen.
In Japan, the Nikkei 225 index lost 0.45 percent, 43.54, to 9,693.94.
In Britain, the FTSE 100 index rose 0.5 percent, 25.21, to 5,071.68.
NEW YORK, (UPI) -- U.S. stocks were mixed Monday after the Commerce Department said consumer spending rose modestly in May.
After lying flat a month ago, spending among consumers rose 0.2 percent in May, while incomes rose 0.4 percent and prices declined less than 0.1 percent.
The Group of 20 summit ended Sunday with world leaders pledging to reduce government debt.
Contrary to G20 meeting a year ago, when stimulus spending was the order of the day, leaders in Toronto agreed to reduce public debt in half by 2013 and to stabilize their budgets by 2016.
In early afternoon trading, the Dow Jones industrial average was virtually flat, up 1.89 or 0.02 percent to 10,145.70. The Standard & Poor's 500 index lost 0.84 or 0.08 percent to 1,075.92. The Nasdaq composite index rose 1.82 or 0.08 percent to 1,075.92.
The benchmark 10-year Treasury note rose 19/32 to yield 3.04 percent.
The euro fell to $1.2283 from Friday's $1.2386. Against the yen, the dollar rose to 89.435 yen from Friday's 89.27 yen.
In Japan, the Nikkei 225 index lost 0.45 percent, 43.54, to 9,693.94.
In Britain, the FTSE 100 index rose 0.5 percent, 25.21, to 5,071.68.
