Wall St. closes higher on robust retail sales data, industrials lead

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Wall St. closes higher on robust retail sales data, industrials lead

On Thursday, the 18th of April 2019, Industrials had helped Dow Jones and S&P 500 to post moderate gains, while tech-heavy Nasdaq composite wrapped the day up flatlined, amid some robust US economic data including a lofty US retail sales, posting its fastest growth in 1 and a ½ years, and a basket of healthy corporate earnings reports.

While the market had been heading towards a three-day weekend, all three major indexes of Wall St. had closed the day higher, and during the holiday-shortened week, S&P 500 snatched a three-week winning streak, while both Nasdaq and Dow posted moderate weekly gains.

Apart from the retail sales data, the number of American citizens filing for unemployment benefits for the first time in their lives had dropped to a record 50-year low last week, which had also cheered the US stocks. At the Thursday’s (April 18th) market closure, Dow Jones posted a gain of 0.42 percent to 26,559.54, leading the charge from the front, while S&P had soared 0.16 percent to 2,905.03 and Nasdaq added 0.02 percent to 7,998.06.

Despite Thursday’s gain, investors’ optimism appeared to be downbeat amid uncertainties over multiple fronts of US trade war, as a managing partner in the Keator Group, a wealth management firm in Massachusetts, Matthew Keator commented, “It’s been kind of an anemic market over the last few weeks”.