Off the wire
• UNICEF leads convoy into Iraq's Mosul with emergency supplies  • Spain's consumer prices rise 0.7 pct in Oct  • Commitment urged to global efforts against climate change  • Lithuania to raise defence spending to 2 percent of GDP by 2018: parliament  • Cambodia's Water Festival ends with great pleasure: PM  • JSE closes lower on Tuesday  • IMF sees positive trends in Ukraine' s economy  • Thousands of Belgian military personnel protest pension reform  • Juppe dominates French primary vote despite losing momentum: survey  • Belarus economy 2.8% down in January-October  
You are here: 　 Home

U.S. stocks trade mixed amid data, rate hike concern

Xinhua, November 16, 2016 Adjust font size:

U.S. stocks traded mixed on Tuesday, as investors mainly focused on newly-released data and remarks from a U.S. Federal Reserve official.

By noon, the Dow Jones Industrial Average shed 51.88 points, or 0.27 percent, to 18,816.81. The S&P 500 rose 6.17 points, or 0.29 percent, to 2,170.37. The Nasdaq Composite Index gained 41.67 points, or 0.80 percent, to 5,260.06.

The U.S. Commerce Department announced Tuesday that advance estimates of U.S. retail and food services sales for October increased 0.8 percent from the previous month to 465.9 billion dollars, better than market estimates.

U.S. import prices advanced 0.5 percent in October, after a 0.2 percent increase in September, the Labor Department reported Tuesday. The price index for U.S. exports increased 0.2 percent in October following a 0.3-percent advance the previous month.

Meanwhile, investors still assessed the prospects of economic growth following Donald Trump's presidential election win.

Analysts believed that the increased prospect of tax cuts and a generally pro-growth set of policies from Trump, aided and abetted by the Republican clean sweep of Congress, are bullish for the stock market. U.S. stocks saw solid gains last week.

However, Trump's win puts into question the likelihood of a Federal Reserve rate hike.

Boston Fed President Eric Rosengren said Tuesday the central bank won't be easily swayed from a December rate hike, according to the CNBC. Enditem