U.S. stocks end mixed amid economic reports
Xinhua, July 16, 2016 Adjust font size:
U.S. stocks closed narrowly mixed Friday, with the Dow Jones Industrial Average extending its record run to a fourth straight day, as investors digested a batch of economic data.
The Dow Jones Industrial Average edged up 10.14 points, or 0.05 percent, to 18,516.55. The S&P 500 fell 2.01 points, or 0.09 percent, to 2,161.74. The Nasdaq Composite Index lost 4.47 points, or 0.09 percent, to 5,029.59.
The U.S. Commerce Department announced Friday that advance estimates of U.S. retail and food services sales for June increased 0.6 percent from the previous month to 457.0 billion U.S. dollars, beating market consensus of a 0.1-percent gain.
"Retail sales fell 0.2% at an annual rate in the first quarter but rose 5.9% in the second, continuing a pattern of a rebound after a slow start to the year," said Chris Low, chief economist at FTN Financial, in a note.
The U.S. Consumer Price Index (CPI) for all urban consumers increased 0.2 percent in June on a seasonally adjusted basis, the Labor Department reported Friday.
The index for all items less food and energy increased 0.2 percent in June, and it has increased 2.3 percent over the past 12 months.
Meanwhile, U.S. industrial production increased 0.6 percent in June after declining 0.3 percent in May, said the Federal Reserve Friday.
For the second quarter as a whole, industrial production fell at an annual rate of 1.0 percent, its third consecutive quarterly decline.
In corporate news, shares of Citigroup Inc. inched down 0.27 percent to 44.33 dollars apiece Friday, even though the U.S. bank delivered better-than-expected quarterly results.
In a weekly basis, all three major indices posted solid gains, with the Dow, the S&P 500 and the Nasdaq going up 2.0 percent, 1.5 percent and 1.5 percent, respectively. Endit