The US markets ended flat on Friday,though the trade remained lack luster with traders reacting to mixed set of economic data; the Commerce Department released a report showing that personal income increased in line with economist estimates in the month of July. The personal income rose by 0.4 percent, matching the increases seen in the three previous months as well as the consensus estimate. Personal spending increased by 0.3 percent for the second consecutive month. On the other hand, a report from the University of Michigan showed an unexpected downward revision to its consumer sentiment index for August. Traders were also reacting to comments by Federal Reserve Vice Chairman Stanley Fischer about the outlook for interest rates. He said that it was too early to tell if the Fed will raise rates in September but noted that the central bank is heading in the direction of raising rates. Fischer's remarks may lead to continued volatility in the coming weeks as traders focus on the incoming economic data, particularly next Friday's monthly jobs report.
Dow Jones Industrial Average declined by 11.76 points or 0.1 percent to 16,643.01, while the Nasdaq rose by 15.62 points or 0.3 percent to 4,828.32 and the S&P 500 was tad higher by 1.21 points or 0.1 percent to 1,988.87.
The Indian ADRs made a green close, HDFC Bank was up by 0.59%, ICC Bank was up by 0.02%, Wipro was up by 0.12%, Tata Motors was up by 0.24% and Dr Reddy’s Lab was up by 0.05%.