Showing posts with the label Daily Market Analysis by Peter Schacknow

Daily Market Analysis by Peter Schacknow, CNBC Senior Produce August 30, 2013: US stocks head for losing August

US stocks head for losing August Peter Schacknow, Senior Producer, CNBC Breaking News Desk Barring a major rally today, the Dow and the S&P 500 will post their biggest monthly losses since May 2012, although the Nasdaq still has a chance to post a positive month. The major averages did post modest gains Thursday as it appeared any military action in Syria would be delayed. The week and month will end with three fresh economic reports, beginning with the government's July look at personal income and consumer spending for July. Consensus forecasts call for a 0.1 percent rise in income and a 0.3 percent increase in spending for last month, compared to gains of 0.3 percent for income and 0.5 percent for spending in June. Those numbers will be out at 8:30 a.m. ET. The Chicago Purchasing Manager's Index, out at 9:45 a.m. ET, is expected to come in at 53.5 for August, compared to July's 52.3. And at 9:55 a.m. ET, the University of Michigan's consumer