Investing.com - Lackluster U.S. retail sales data sent Wall
Street closing mixed on Tuesday, through revisions to March's sales
figures brought in the buyers and offset losses somewhat.
At the close of U.S. trading, the Dow 30 rose 0.12%, the S&P
500 index rose 0.04%, while the NASDAQ Composite index fell
The Commerce Department reported earlier that U.S. retail sales
rose 0.1% in April, missing expectations for a 0.4% increase. Core
retail sales, which exclude automobile sales, were flat in April,
disappointing forecasts for a 0.6% increase.
Consumer spending drives about three-fourths of the U.S.
economy, and Tuesday's retail sales report dampened stock prices,
though revised March data gave investors reason to cheer.
Retail sales for March were revised up to a 1.5% gain from a
previously reported increase of 1.2%, while core sales were revised
up to a rise of 1% from a previously reported increase of 0.7%
Upon digesting the data, investors determined that economic
indicators will continue to disappoint from time to time but
overall, the U.S. economy continues to recover and will strengthen
quarterly financial statements going forward.
Elsewhere, Microsoft Corporation (NASDAQ:MSFT) shares rose after
the tech giant said it was cutting costs of its Xbox One gaming
console by $100.
Separately, Keurig Green Mountain Inc (NASDAQ:GMCR) shares rose
after Coca-Cola Company (NYSE:KO) hiked its stake in the company,
becoming the largest shareholder.
Leading Dow Jones Industrial Average performers included
Microsoft Corporation (NASDAQ:MSFT), up 1.11%, The Travelers
Companies Inc (NYSE:TRV), up 0.94%, and Caterpillar Inc (NYSE:CAT),
The Dow Jones Industrial Average's worst performers included
Cisco Systems Inc (NASDAQ:CSCO), down 1.34%, Home Depot Inc
(NYSE:HD), down 1.28%, and AT&T Inc (NYSE:T), down 1.03%.
European indices, meanwhile, finished higher.
After the close of European trade, the DJ Euro Stoxx 50 rose
0.11%, France's CAC 40 rose 0.25%, while Germany's DAX rose 0.54%.
Meanwhile, in the U.K. the FTSE 100 rose 0.31%.
On Wednesday, the U.S. is to release data on producer price
offers an extensive set of professional tools for the financial
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