- The major Wall Street indices posted small losses on Tuesday.
- Retail sales in the US fell more than expected in May.
- Rising crude prices continue to boost energy stocks.
The main US stock indices they are trading slightly below Monday’s closing levels. At time of writing, the S&P 500, which hit a new high of 4,257 at the opening bell, was down 0.08% on the day at 4,252. Additionally, the Dow Jones Industrial Average was losing 0.1% to 34,346 and the Nasdaq Composite was down 0.25% at 14,091.
The release of mixed macroeconomic data from the US appears to be forcing investors to remain cautious ahead of the FOMC’s policy announcements on Wednesday.
The US Census Bureau reported Tuesday that retail sales in May declined 1.3%, compared with analysts’ estimate of a 0.8% drop. On a positive note, Industrial Production expanded 0.8%, beating the market’s expectation of a 0.6% increase by a small margin.
Among the top 11 sectors in the S&P 500, the Energy Index is up 1.35% supported by a 1% rise in US crude prices. On the other hand, the real estate index is the largest percentage of decline after the opening bell, losing 0.55% daily.
Nasdaq Technicals (NDX QQQ) – Catching Up and Setting a New Record as the Big Tech Bounce Continues.
S&P 500 chart (daily)
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