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U.S. stocks end mixed amid downbeat data

Xinhua, August 13, 2016 Adjust font size:

U.S. stocks closed mixed Friday, with the Nasdaq Composite Index eclipsing previous day's closing record high, as investors digested a batch of generally negative economic reports.

The Dow Jones Industrial Average fell 37.05 points, or 0.20 percent, to 18,576.47. The S&P 500 inched down 1.74 points, or 0.08 percent, to 2,184.05. The Nasdaq rose 4.50 points, or 0.09 percent, to 5,232.90.

The Commerce Department announced Friday that advance estimates of U.S. retail and food services sales for July were 457.7 billion U.S. dollars, virtually unchanged from the previous month and below market estimates of a 0.4-percent gain.

U.S. total sales for the May 2016 through July 2016 period were up 2.5 percent from the same period a year ago.

"The retail sales report confirms the Q2 bounce in consumption but kicks off Q3 on a much weaker than expected note. Strong auto sales buoyed the headline number but appear to have come at the expense of spending on other consumer goods and services," said Sophia Kearney-Lederman, an economic analyst at FTN Financial.

The Producer Price Index for final demand decreased 0.4 percent in July, seasonally adjusted, missing market consensus of a 0.1-percent gain, the U.S. Labor Department said Friday.

Meanwhile, the preliminary reading of the consumer sentiment for August increased to 90.4 from 90 in July, said the Thomson Reuters/University of Michigan index of consumer sentiment on Friday.

In corporate news, shares of J.C. Penney Company, Inc. surged 6.14 percent to 10.55 dollars apiece Friday after the U.S. retailer posted narrower-than-expected second-quarter losses and worse-than-expected quarterly sales.

For the week, both the Dow and the Nasdaq rose 0.2 percent, while the S&P 500 added 0.1 percent. Enditem