US Equity Indexes Mixed After Weak Retail Sales Data, Ahead of This Week's Fed Rate Decision
The Nasdaq Composite fell 0.5% to 17,668.1, while the S&P 500 rose 0.1% to 5,644.0 and the Dow Jones Industrial Average climbed 0.5% to 41,685.2. Energy was the top gainer intraday, while consumer discretionary was the steepest decliner.
In economic news, US retail sales rose 0.2% in February, lower than the 0.6% increase expected in a survey compiled by
"While an improvement in spending activity relative to the start of the year, consumers remain hesitant to ramp up spending amid ample uncertainty and unknowns," Stifel Chief Economist
On the Fed, Macquarie global forex and rates strategist
"Yet instead of signaling confidence in its own outlook, the Fed may issue signals of no-confidence, instead, at its policy meeting this week" Wizman said in a note Monday. "'Uncertainty' is central bankers' new policy-outlook mantra."
In company news,
The US 10-year Treasury yield fell 3.8 basis points to 4.27%, and two-year rate was unchanged at 4.02%.
The US Dollar Index was down 0.4% to 103.36.
West Texas Intermediate crude rose 0.6% to
Gold was up 0.1% to
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