Share

US stocks mixed as investors mull data

New York - US stocks traded mixed on Monday as investors weighed better-than-expected March retail sales numbers, a sharp slowdown in New York manufacturing and renewed eurozone debt tensions.

The three main indexes opened with solid gains after a second straight weekly decline, but sentiment was tempered after a batch of contradictory signals on the health of the US economy.

The Dow Jones Industrial Average fell 71.82 points to finish at 12 921.41.

The broader S&P 500 inched down 0.69 point to 1 369.57, while the Nasdaq tumbled 22.93 to 2 988.40, under pressure from technology stocks.

The Commerce Department reported overall retail and food service sales expanded by 0.8% last month, slightly below February's increase but better than analysts expected.

But the New York state manufacturing index plunged to 6.6 in April, from 20.2 in March, and a homebuilders sentiment index fell more than expected.

Overhanging the US market was a rise in Spanish and Italian bond yields, said Dick Green at Briefing.com, adding, "the obsession is building."

"The market focus goes through fashions and a shift to Europe would increase anxiety in the US stock market."

In US corporate earnings news, Citigroup reported a $2.9bn profit for the first quarter of the year, beating market forecasts. Shares in the banking giant rose 1.8%.

Toymaker Mattel plunged 9.1% after posting first-quarter profit slightly below expectations, with sales in North America falling 9.0%.

Walmart rose 1.4%. The world's biggest retailer named Marissa Mayer, Google vice president, to its board of directors. Her nomination will be considered at a June 1 shareholders meeting.

Technology stocks weighed on the Nasdaq. Apple sank 4.2% and Google shed 3.0%.

Bond prices rose. The yield on the 10-year US Treasury fell to 1.97% from 2.00% on Friday while the 30-year yield declined to 3.11% from 3.15%.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.0%
Rand - Pound
23.90
-0.0%
Rand - Euro
20.41
+0.1%
Rand - Aus dollar
12.32
+0.1%
Rand - Yen
0.13
-0.0%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders