Breaking News
Get 40% Off 0
Is NVDA a 🟢 buy or 🔴 sell? Unlock Now

U.S. stocks are mixed as investors await retail earnings, economic data

Published Aug 13, 2023 07:08PM ET Updated Aug 14, 2023 11:29AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
US500
+0.20%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DJI
-0.25%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
IXIC
+0.39%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
EUR/USD
-0.02%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
WMT
-0.03%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
HD
+1.01%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Investing.com -- U.S. stocks wobbled early on Monday as investors anticipate earnings reports from major retailers and retail sales data for July that could shed more light on the health of the American consumer.

At 11:21 ET (15:21 GMT), the Dow Jones Industrial Average was down 7 points or less than 0.1%, while the S&P 500 was up 0.3% and the NASDAQ Composite was up 0.5%.

The main equities indices have had a tricky start to August, with the broad-based S&P 500 and the tech-heavy Nasdaq Composite both falling last week, the Nasdaq’s first two-week losing streak of the year.

The blue-chip Dow Jones Industrial Average, however, posted small gains last week, its fourth positive week in five.

Fed minutes to offer monetary policy clues

Inflation data at the end of last week came in a touch stronger than expected, causing Treasury yields to rise as investors factored in the possibility of the Federal Reserve continuing to tighten monetary policy in September.

However, this is not the prevailing wisdom, with Goldman Sachs speaking for many when it expects the central bank to pause in September and then declare in November that a moderation in inflation means that a final hike would be "unnecessary."

The influential investment bank then sees the Fed starting to cut interest rates again by the end of next June, rolling out gradual reductions in borrowing costs every quarter after that month.

The Fed releases the minutes from its July policy meeting on Wednesday, which should help investors gauge the appetite for further rate increases ahead of its annual get-together in Jackson Hole, Wyoming at the end of the month.

Major retailers set to release earnings

Ahead of this, Tuesday sees the release of the retail sales for July, a gauge into the health of consumer spending as investors await quarterly earnings from a number of the country’s big retailers.

Home Depot (NYSE:HD) is due to release results on Tuesday, Target (NYSE:TGT) on Wednesday and Walmart (NYSE:WMT) on Thursday.

The second quarter earnings season is winding down with S&P 500 results presenting a mixed picture - companies are beating analysts' profit expectations at the highest rate in nearly two years even as revenue beats dropped to the lowest since early 2020.

Tesla cuts prices in China

Elsewhere, Tesla (NASDAQ:TSLA) has cut prices in China for two of its Model Y model, as the electric car maker attempts to combat increased competition and entice customers wary of making big purchases in an uncertain economy. Tesla shares fell 1.8%.

Sales of Tesla cars made in China dropped by 31% month-on-month in July, the first decline since December.

Crude retreats as dollar rises

Oil prices retreated Monday, as concerns about China’s faltering economic recovery as well as a stronger dollar prompted profit-taking after seven weeks of gains on tightening supply from OPEC+ output cuts.

Friday’s U.S. producer price index release saw the dollar climb to a five-week high, which hurts demand for crude as it makes the commodity more expensive for international buyers.

(Peter Nurse and Oliver Gray contributed to this item.)

U.S. stocks are mixed as investors await retail earnings, economic data
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (9)
Mitchel Pioneer
Mitchel Pioneer Aug 14, 2023 2:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
One intraday miracle after another in the laughingstock of the financial world.
First Last
First Last Aug 14, 2023 2:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
You need to up your standards for miracle.
William Bailey
William Bailey Aug 14, 2023 2:01PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Fakery is starting to lose effectiveness and goverment is struing to sell debt, not long now!
dylan mulvaney
dylan mulvaney Aug 14, 2023 1:20PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
OMG PLEASE GIVE ME MORE BAD EARNINGS SO THAT I CAN BUY STOCKS WITH P/E's ABOVE 300!!!!
Boyan Davidov
Boyan Davidov Aug 14, 2023 12:35PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
NvidAI and AMD saved the the day again.
Elvis Durant
Elvis Durant Aug 14, 2023 7:49AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Retail? what's that? Retail been dead for about 20yrs now
Brad Albright
Brad Albright Aug 14, 2023 7:49AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Its 6% of GDP. More than IT, entertainment, utilities and transportation.
Derick Lim
Derick Lim Aug 14, 2023 7:17AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Most retail sectors already indicated a slowing economy since last quarter.....only the analysts keep pumping up the AI hype.....
Don Vo
Don Vo Aug 13, 2023 10:41PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Market crashes up coming
tex flanagan
tex flanagan Aug 13, 2023 10:18PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
futures are red not green
Ma Lu
Ma Lu Aug 13, 2023 10:18PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
And the earth is flat! It's all a big lie they tell us, only you know the truth
Mesna Kroglica
Mesna Kroglica Aug 13, 2023 7:47PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
It's been 10 months of non stop bull rally. The big boys are taking their gains at the top. The stocks right now are overpriced so they will wait for a market correction. Why do you think waren buffet and other big players are buying T bills like crazy? because they think the market will go up? No silly because they expect the market to go down in the next 6 months.
Derick Lim
Derick Lim Aug 13, 2023 7:47PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Unfortunately the analysts still pumping up AI AI AI news hoping to lure greed investors
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email