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Wall Street Opens Mixed on Surprise Retail Sales Bump; Dow up 100 Pts By


© Reuters.

By Geoffrey Smith — U.S. stock markets opened mixed, unimpressed by a surprise increase in retail sales in August and the lack of any further improvement in the trend for jobless claims. 

By 9:35 AM ET (1335 GMT), the was up 100 points, or 0.3%, at 34,916 points. The was flat, while the was down 0.3%.

U.S. rose 0.7% in August, compared with expectations for a drop of 0.8%. The decline in July was revised to 1.8% from 1.1%. This neutralized any positive surprises. Last week, initial claims for unemployment benefits rose to 330,000 from 312,000. This is consistent with data that shows a decline in certain pockets of the service industry due to Covid-19’s continued outbreaks.

New data shows a marked drop in cases of Covid-19 in states like Florida and Texas since September. These numbers raise hopes that we are seeing the end of this delta-variant outbreak.

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