While you were sleeping: Oil extends rebound

Mon, 02 Feb 2015

By Margreet Dietz Feb. 3 (BusinessDesk) - Disappointing US manufacturing and consumer spending data weighed on equities, offsetting a rebound in energy stocks along with oil prices. The Institute for Supply Management’s index fell more than expected to 53.5 last month, from 55.1 in December, while Commerce Department report showed consumer spending dropped 0.3 percent in December, following a 0.5 percent increase in November. It was the largest decline in more than five years. Still, the data failed to dim optimism about the US econo...

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