Dollar Falls, Wall Street Mixed Ahead of NFP data

The performance of US shares is mixed on Thursday as a selloff in Salesforce impacted the Dow Jones, while traders are busy; digesting a fresh batch of US economic data which generally indicate that the Fed’s interest rate hikes are working towards their aspired target.

On Wednesday, US manufacturing activity shrank for the first time in 2-1/2 years in November as higher borrowing costs weighed on demand for goods, data showed, evidence the Fed’s rate hikes have cooled the economy.. the S&P 500 surged over 3% on optimism the Fed might moderate its rate hikes.

The personal consumption expenditures (PCE) price index rose 0.3%, the same as in September, and over the 12 months through October the index increased 6.0% after advancing 6.3% the prior month.

Excluding the volatile food and energy components, the PCE price index rose 0.2%, one-tenth less than expected, after gaining 0.5% in September.