LINE

    Text:AAAPrint
    Economy

    U.S. stocks trade mixed amid retail sales plunge, Fed official's remarks

    1
    2019-02-15 09:10:33Xinhua Editor : Gu Liping ECNS App Download

    U.S. stocks traded mixed on Thursday, as sales at U.S. retailers suffered the biggest fall in December 2018 in nine years, and a governor of U.S. Federal Reserve cautioned rising downside risk on the U.S. economy.

    At midday, the Dow Jones Industrial Average dropped 105.88 points, or 0.41 percent, to 25,437.39. The S&P 500 fell 7.69 points, or 0.28 percent, to 2,745.34. The Nasdaq Composite Index was up 0.74 points, or 0.01 percent, to 7,421.12.

    Shares of Amazon fell more than 1.2 percent around midday, after the U.S. e-commerce giant announced it decided not to move forward with plans to build a headquarters in New York City, due to fierce local opposition.

    Shares of U.S. online review site firm Yelp and U.S. resorts operator MGM Resorts declined over 0.7 percent and nearly 6 percent respectively around midday, as widespread worries over sluggish consumer spending offset the better-than-expected fourth-quarter reports of the two companies.

    Six of the 11 primary S&P 500 sectors extended losses around midday, with the financials sector and the consumer staples sector down over 1 percent, leading the laggards.

    Lael Brainard, a member of the Fed's Board of Governors, said Thursday that she was concerned about the U.S. economy due to increasing "downside risks" in an interview with CNBC.

    "Downside risks have definitely increased relative to that modal outlook for continued solid growth," said the central bank policymaker.

    Brainard also said in a previous interview with MarketWatch that political uncertainties due to government shutdown and trade tensions would threaten U.S. economic growth.

    "As I look at that set of risks, there are things that could get resolved in a very positive way, but of course ...the longer these drag on, the more I worry that they really materially weigh on consumer confidence, business confidence and then start to work their way through activity in the economy," she said.

    On the economic front, U.S. retail sales plunged 1.2 percent in December last year, marking the largest decline since September 2009, the U.S. Census Bureau said on Thursday.

    The data has been widely regarded as an indication of a marked slowdown in both consumer spending and economic activity by the end of 2018.

    The statistics was released in a report postponed by the U.S. government shutdown which lasted 35 days, the longest one in U.S. history. Enditem

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    News
    Politics
    Business
    Society
    Culture
    Military
    Sci-tech
    Entertainment
    Sports
    Odd
    Features
    Biz
    Economy
    Travel
    Travel News
    Travel Types
    Events
    Food
    Hotel
    Bar & Club
    Architecture
    Gallery
    Photo
    CNS Photo
    Video
    Video
    Learning Chinese
    Learn About China
    Social Chinese
    Business Chinese
    Buzz Words
    Bilingual
    Resources
    ECNS Wire
    Special Coverage
    Infographics
    Voices
    LINE
    Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
    Copyright ©1999-2019 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    主站蜘蛛池模板: 固安县| 彭阳县| 罗田县| 天津市| 元朗区| 建德市| 丰城市| 项城市| 哈巴河县| 调兵山市| 上犹县| 宁德市| 淮阳县| 安远县| 东港市| 南陵县| 土默特左旗| 砚山县| 冷水江市| 普安县| 耒阳市| 祁门县| 安平县| 西林县| 涿州市| 康马县| 浠水县| 阜康市| 钟祥市| 呼伦贝尔市| 河北省| 邳州市| 平武县| 军事| 郸城县| 井研县| 秦安县| 竹北市| 黑龙江省| 屏南县| 淳安县|