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Stocks - Wall Street Flat After U.S. Data

Stock MarketsSep 14, 2018 10:04
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© Reuters. Wall Street started flat on Friday. - Wall Street was flat on Friday as investors digested weak economic data and kept an eye on trade developments.

The S&P 500 rose 2 points, or 0.08%, to 2,906.61 as of 9:38 AM ET (13:38 GMT), while the Dow increased 48 points, or 0.19%, to 26,194.91 and the tech-heavy Nasdaq Composite gained 16 points, or 0.20%, to 8,029.84.

U.S. retail sales rose less than anticipated in August, while import prices dropped. Those numbers followed weak inflation data on Thursday, making the case for the Federal Reserve to possibly slow down its pace of rate hikes.

Meanwhile, trade talk efforts between the U.S. and China cooled after U.S. President Donald Trump tweeted that the country “was under no pressure to make a deal with China.” Talks over a revised North American Free Trade Agreement (NAFTA) with Canada failed to make any progress, as the Minister of Foreign Affairs of Canada said she would continue talks until at least Monday.

Advanced Micro Devices (NASDAQ:AMD) was among the top gainers after the morning bell, rising 3.41%, while Adobe (NASDAQ:ADBE) gained 2.65% and Intel (NASDAQ:INTC) inched up 0.82%. Tesla (NASDAQ:TSLA) rival NIO (NYSE:NIO) struggled for direction, falling 2.33% just days after its trading debut on Wall Street.

Elsewhere, medical marijuana company Tilray (NASDAQ:TLRY) slumped 5.59% after Politico reported that Canadians who work in the industry or invest in the sector could risk a lifetime ban on travel to the U.S.

In Europe, stocks were up. Germany’s DAX rose 71 points, or 0.59%, while in France the CAC 40 increased 31 points, or 0.60%, and in London the FTSE 100 was up 27 points, or 0.37%. Meanwhile the pan-European Euro Stoxx 50 gained 12 points, or 0.38%, while Spain’s IBEX 35 inched up 19 points, or 0.21%.

In commodities, gold futures fell 0.01% to $1,208.10 a troy ounce, while crude oil futures rose 0.10% to $68.66 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, gained 0.18% to 94.70.

Stocks - Wall Street Flat After U.S. Data

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