US stocks retreat amid economic data

US stocks retreat amid economic data 

New York, Aug 17 (IANS) US stocks declined as investors digested a batch of economic reports.

The Dow Jones Industrial Average on Tuesday fell 84.03 points, or 0.45 per cent, to 18,552.02, Xinhua news agency reported.

The S&P 500 lost 12.00 points, or 0.55 per cent, to 2,178.15. The Nasdaq Composite Index decreased 34.90 points, or 0.66 per cent, to 5,227.11.

The US Consumer Price Index (CPI) for all urban consumers was unchanged in July on a seasonally adjusted basis, in line with market estimates, the Labor Department reported on Tuesday.

The index for all items less food and energy rose 0.1 per cent in July, but posted its smallest increase since March.

Meanwhile, US privately-owned housing starts in July were at a seasonally adjusted annual rate of 1.211 million units, 2.1 per cent above the revised June estimate, according to the Commerce Department on Tuesday.

US industrial production increased 0.7 per cent in July, beating market expectations of a 0.3-per cent gain, after moving up 0.4 per cent in June, said the Federal Reserve on Tuesday.

Meanwhile, investors kept a close eye on the minutes from the Fed’s July policy meeting scheduled for release Wednesday, for more indications on the timing of a next interest rate hike.

Oil prices were also in focus, which rallied for a fourth straight session on Tuesday amid speculation that the talks of Organization of the Petroleum Exporting Countries next month could result in a crude output freeze.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here