After several quiet days on the US economic front, a slew of data was released this morning, potentially leading to choppy trading on
The report said retail sales rose by 0.3% in May following an upwardly revised 0.5% increase in April. Economist had been expecting sales to climb by about 0.6% in May compared to the 0.1% uptick originally reported for the previous month.
Excluding auto sales, retail sales edged up by 0.1% in May compared to a 0.4% increase in April. Ex-auto sales were originally reported as unchanged in the previous month.
The report said initial jobless claims edged up to 317,000, an increase of 4,000 from the previous week's revised level of 313,000.
The modest increase came as a surprise to economists, who had expected jobless claims to dip to 310,000 from the 312,000 originally reported for the previous week.
A separate report from the
Not long after the open, the
After ending Tuesday's trading nearly unchanged, stocks moved mostly lower over the course of the trading session on Wednesday. Renewed concerns about the outlook for the global economy weighed on the markets.
The major averages climbed off their worst levels late in the day but still closed in the red. The Dow fell 102.04 points or 0.6% to 16,843.88, the Nasdaq edged down 6.06 points or 0.1% to 4,331.93 and the S&P 500 slid 6.90 points or 0.4% to 1,943.89.
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