Stocks Dip as Banks Lead Broad Market Lower
Banks and financial firms weighed the market as mixed economic data and earnings gave little uplift. Barclays slid after a New York attorney general lawsuit over dark trading. Bed Bath & Beyond fell on weak results, while GoPro surged in its IPO day, lifting sentiment briefly.
MENTIONED IN THIS ARTICLE
NEW York
Barclays
Standard & Poor
Phil Orlando
Federated Investors
Bed Bath & Beyond
GoPro
Randy Frederick
Charles Schwab Center For Financial Research
Frederick
Treasury
May Consumer Spending Rises Modestly in Weak Increase
U S consumers boosted spending 0.2 percent in May after flat April, with income up 0.4 percent. Analysts say the modest gain may dull the pace of the economic rebound in Q2, though durable goods and auto sales supported the figure. Inflation gauge remains near 1.8 percent through May, below the 2 percent target.
MENTIONED IN THIS ARTICLE
Washington
U.S
Commerce Department
Paul Dales
Capital Economics
Dales
Jennifer Lee
BMO Capital Markets
Federal Reserve
Fed
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