Today morning the news of Intel's stock was suspended from trading stocks to go so soft. The chip giant reported that chipset design defects, thereby reducing the expected revenue to $ 300,000,000.
But economic data released today encouraging and promoting a stronger U.S. stocks. By rising incomes and lower prices, fueled the increase in December U.S. consumer spending, weak economic recovery in the U.S. have the necessary impetus. 12 about 0.7% growth in consumer spending, personal income for the fourth consecutive month growth rate of 0.4%. Economists on average had expected personal spending to grow 0.5%, personal income rose 0.4%.
The data also show that the U.S. inflation rate is still below the Fed's price stability target recognition range. December's core personal consumption expenditure price index rose 0.7%, 11 month growth rate of 0.8%. The Fed's target range for core CPI 1.5% to 2%.
U.S. stocks opened, the U.S. Institute for Supply Management (ISM) Chicago branch, announced in January the Chicago purchasing managers index (PMI) was 68.8, the highest since July 1988 a new high. According to Bloomberg News survey of economists forecast an average 65.0 points. December last year, the Chicago PMI to 66.8 points (correction value).