Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

U.S stocks fall on retail data but end week higher; Dow ends flat

Published 04/12/2013, 04:22 PM
Updated 04/12/2013, 04:23 PM
Investing.com - Weaker-than-expected retail sales and consumer-sentiment data sent U.S. stocks falling on Friday though equities did finish the week up on the upswing.

At the close of U.S. trading, the Dow Jones Industrial Average finished largely flat, the S&P 500 index fell 0.28%, while the Nasdaq Composite index fell 0.16%.

Earlier Friday, the Thomson Reuters/University of Michigan's preliminary consumer sentiment index dropped to a 9-month low in April, falling to 72.3 from 78.6 in the previous month.

Analysts were expecting the index to tick down to 78.5 this month.

Elsewhere, official data revealed that retail sales in the U.S. fell 0.4% in March, defying expectations for a 0.1% rise after a 1% increase the previous month.

Core retail sales, which are stripped of volatile automobile sales, also dipped 0.4% last month after a 1% increase in February, missing similar expectations for a 0.1% rise.

Consumer spending drives about 70% of the U.S. economy, and the softer-than-expected data sent stocks falling.

Hopes for a gradual improvement in economic indicators and upcoming quarterly earnings allowed stocks to trim earlier losses, especially as the day's trading came to a close.

Leading Dow Jones Industrial Average performers included Home Depot, up 2.43%, McDonald's, up 1.57%, and Wal-Mart Stores, up 0.98%.

The Dow Jones Industrial Average's worst performers included Alcoa, down 1.20%, DuPont, down 0.93%, and Bank of America, down 0.90%.

European indices, meanwhile, finished lower.

After the close of European trade, the EURO STOXX 50 fell 1.53%, France's CAC 40 fell 1.23%, while Germany's DAX 30 finished down 1.61%. Meanwhile, in the U.K. the FTSE 100 fell 0.49%.







 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.