US stocks target finance on weak data ahead of Fed

US stocks target finance on weak data ahead of Fed

The New York Stock Indices operate without a single direction on Tuesday, with investors evaluating industrial activity and retail sales data pending the Federal Reserve’s (Fed, US Central Bank) monetary policy decision, released yesterday. Will be done.

Just before 12:30, the Dow Jones climbed 0.36% to 32.83.71 points. The S&P 500 gained 0.21% to settle at 3,977.08 points and the Nasdaq gained 1.15% to close at 13,615.89 points.

US retail sales fell 3% in February compared to the previous month, the Commerce Department previously said. The figure was 0.5% below the analyst projection heard by the “Wall Street Journal”.

According to data released this Tuesday by the Fed, US industrial production fell 2.2% in February. The fall also surprised negatively, contrary to the expectation of a 0.3% increase.

The negative surprise was attributed, at least in part, to harsh winters that affected demand and production in large parts of the United States. Most notably, some oil refineries, petrochemical facilities and plastic resin factories suffered damage from abnormal freezing and were off air for the rest of the month.

Weak data helps ease investor fear of a decrease in demand, due to an increase in demand as the US economy recovers. Amidst these fears, Treasury yields have skyrocketed in recent weeks, falling from 1.607% at the close of yesterday to a ten-year T-Note yield of 1.598%.

“Everything is airing the fact that it is making a huge recovery,” said Fahd Kamal, investment director at Kleinwater Hambros, part of Sohte Gennarele. “It should obviously help some areas that have been overrun for a long time and are obviously very cheap,” Kamal said. “We will see an increase in error.”

However, Lotus does not expect profit for sectors such as banking and energy at the expense of rising technology shares. “These companies are still unreliable,” he said. “There will be more recovery, but that doesn’t mean the technology will suffer.”

Cory Weinberg

About the author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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