Stocks mixed after Dow and S&P 500 set records, retail sales miss estimates

Tiger Newspress2021-03-16

(March 16) Stocks traded mixed Tuesday, following a session in which thebroader market notched new record highs, as traders digested a weaker than expected report on U.S. retail sales and looked ahead to a Federal Reserve policy meeting later this week.

The Dow and S&P 500 were little changed on Tuesday morning, trading near record highs as Federal Reserve officials kick off their March meeting.

The Dow slipped 32 points, or 0.1%. The S&P 500 rose 0.1% and set an intraday record high. The tech-heavy Nasdaq Composite was the early outperformer, rising 0.6%.

A day earlier, both the Dow and S&P 500 reached new highs, bolstered by the signing of a new $1.9 trillion stimulus bill that's poised to spur consumer spending and ignite economic growth.

Most Americans are poised to receive $1,400 stimulus checks,which began arriving over the weekend, and Wall Street economists have already begun hiking their gross domestic product (GDP) estimates for the remainder of the year, amid expectations that the stimulus will unleash a consumer rebound. And while U.S. retail sales dipped by the most since April 2020 last month, the decline is likely to be a one-off, as additional stimulus and vaccine-enabled reopenings help stoke consumption.

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Comments

  • YL95
    2021-03-17
    YL95
    Nice 
  • sinkiat
    2021-03-17
    sinkiat
    like and comment please!
  • onezero
    2021-03-16
    onezero
    Ok
  • Ayden13
    2021-03-16
    Ayden13
    ?
  • henrysoh
    2021-03-16
    henrysoh
    Great article
  • Missypampam
    2021-03-16
    Missypampam
    So the stimulus is also to keep the market going strong I suppose....
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