US stocks trade mixed amid data

New York, Nov 16 (IANS) US stocks traded mixed as investors mainly focused on newly-released data and remarks from a US Federal Reserve official.

The Dow Jones Industrial Average on Tuesday shed 51.88 points, or 0.27 per cent, to 18,816.81. The S&P 500 rose 6.17 points, or 0.29 percent, to 2,170.37, Xinhua news agency reported.

The Nasdaq Composite Index gained 41.67 points, or 0.80 per cent, to 5,260.06.

The US Commerce Department announced Tuesday that advance estimates of US retail and food services sales for October increased 0.8 per cent from the previous month to $465.9 billion, better than market estimates.

US import prices advanced 0.5 percent in October, after a 0.2 per cent increase in September, the Labor Department reported on Tuesday.

The price index for US exports increased 0.2 per cent in October following a 0.3-per cent advance the previous month.

Meanwhile, investors still assessed the prospects of economic growth following Donald Trump’s presidential election win.

Analysts believed that the increased prospect of tax cuts and a generally pro-growth set of policies from Trump, aided and abetted by the Republican clean sweep of Congress, are bullish for the stock market.

US stocks saw solid gains last week.

–IANS

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