US stocks mixed on GDP, Merkel-Hollande tensions

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US stocks mixed on GDP, Merkel-Hollande tensions

FITITOL--> FXstreet.com (Barcelona) - After opening higher, the SP 500 and Dow Jones 30 are losing, by -0.15% and -0.06% respectively, while the Nasdaq 100 still gains 0.15% after the US data release. The annualized GDP in the first quarter of 2012 points to 2.2% growth, below 2.5% consensus and the 3% of last year. The purchase price index has also risen lower than expected (1.5% vs 2.3%) in Q1. The quarterly change in real personal consumption expenditures in the US was a rise of 2.1% in Q1, as expected by analysts.
Equity markets in Europe “survived” bad news coming from Spain, higher unemployment rate at 24.4% in Q1 2012 and the sovereign credit rating downgrade to BBB+ by the SP agency.

The German DAX 30 and the French CAC 40 are up by 0.59% and 0.92%, while the Italian FTSE MIB and Spanish IBEX 35 rise by 1.51 % and 0.77%. The Swiss SMI 20 is down by -0.56%, even after a strong rise from 0.09 to 0.40 in the KOF leading indicator and comments from SNB’s Jordan express ing he’s intentions of fighting for the 1.20 ground (in the EUR/CHF) at all costs, while being against lowering its key rate below 0%.
Meanwhile, Eurozone politics might get tense if the Socialist Hollande wins the Presidential election in France as he wants to renegotiate the Fiscal Compact already signed by 25 countries, including France. Hollande aims Merkel to express his discontempt against the Eurozone’s path dragging France with it.

Gold is up by 0.70%, at $1666 and crude oil continues its recovery from early Friday trade, and becoming a flat daily candlestick. For now, it’s still down by -0.09%, at $104.42.