Earnings on Wall Street with a push from the macros

Key Wall Street indexes traded lower on Tuesday as encouraging data on retail and industrial output boosted investment psychology after last week’s shock of inflation measurements.

Retail sales rose the most in seven months in October, beating analysts’ estimates and completing three consecutive months of growth, another strong indication that the US economy is recovering.

In particular, retail sales increased by 1.7% last month, according to data released today by the US Department of Commerce. This is the largest increase since March, when the government injected billions of dollars into households to support them in the midst of the coronary heart disease crisis.

Analysts’ average estimates were for a 1.5% increase in sales.

Meanwhile, US plant production rose in October at a rate that exceeded analysts’ estimates, recovering from the disruption caused by Hurricane Ida, according to data released today by the Federal Reserve.

In particular, manufacturing production increased by 1.2% after the fall of September by 0.7%. Total industrial production increased by 1.6% in October, according to the central bank.

Analysts’ average estimates in a Bloomberg poll spoke of a 0.9% increase in manufacturing output and overall industrial output.

Indicators – Statistics

On the board, the industrial Dow Jones gained 195.39 points or 0.54% to 36,292.73 points, while the broader S&P 500 adds 11.95 points or 0.25% to 4,694.55 points. The technology Nasdaq strengthened by 10.31 points or 0.07% to 15,864.85 points.

Of the 30 stocks that make up the Dow Jones industrial average, 24 are moving with a positive sign and six with a negative one. The biggest gains were made by Home Depot with gains of $ 15.45 or 4.16% at $ 386.53, followed by Nike at $ 171.77 with an increase of 1.73% and Intel at $ 51.03. with gains of 1.42%.

The biggest losses are recorded by Walmart (-1.89%), Boeing (-0.95%) and Goldman Sachs Group (-0.87%).

However, worries about the inflation rally after last Wednesday’s data showed a jump in prices by 6.2% on an annual basis in October they are not expected to recede soon.

The data released today in the US also showed that import prices rose further in October, in a new indication that inflation shows no signs of slowing down.

In particular, import prices rose 1.2% in October after rising 0.4% in September, the US Department of Labor announced on Tuesday.

On an annual basis, prices rose 10.7% in October after rising 9.3% in September. Economists polled by Reuters estimated that import prices would rise by 1%.