Wall St. To Open Modestly Lower But Set To End May Higher
U.S. stocks hovered near the unchanged mark on Friday as mixed economic data gave investors little incentive to buy stocks on the last trading day of May. The S&P 500 opened at an intraday record high, but further gains may be difficult to come by until next week, when payrolls data and a meeting at the European Central Bank will be the major catalysts. U.S. consumer spending fell for the first time in a year in April after two months of solid gains, but the decline probably will not change expectations for a rebound in growth this quarter.
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