Wednesday, 17 July 2013

Markets fall amid positive US economic data

Markets fell on Tuesday. The S&P 500 fell 0.4 percent, its first decline in nine days. The STOXX Europe 600 fell 0.7 percent.

The fall in stocks came despite positive US economic data on Tuesday.

Industrial production rose 0.3 percent in June, the biggest increase since February.

The National Association of Home Builders/Wells Fargo housing market index rose to 57 in July, the highest level since January 2006, from 51 in June.

Consumer prices jumped 0.5 percent in June, the most in four months, driven by gasoline. The 12-month inflation rate rose to 1.8 percent last month, up from 1.4 percent in the prior month.

The annual inflation rate in the UK also rose in June to 2.9 percent from 2.7 percent in May. However, from the previous month, consumer prices fell 0.2 percent.

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