U.S. indices closed lower to finish the week on Friday, pressured by shares in the Semiconductors & Semiconductor Equipment (-1.83%), Capital Goods (-1.23%) and Energy (-1.05%) sectors. On the economic data front, the Leading Index rose 0.2% MoM in April (as expected, +0.3% a month earlier). Also, the University of Michigan sentiment index rose to 102.4 in a preliminary estimate in May (forecasted 97.2) from 97.2 in April. The S&P 500 (2,859.53) stays below its 20d moving average (2,899.55 – negative slope) and breaks below 50d moving average (2,868.50 – positive slope).
European markets are expected to start on a flat note. read more