Equity Markets Mixed After US April Retail Sales Remain Flat

MT Newswires Live
16 May

US benchmark equity indexes are on track to close mixed on Thursday after government data showed flat US retail sales in April and a decline in producer prices.

The Dow Jones Industrial Average gained 0.7% to 42,326.6, and the S&P 500 climbed 0.3% to 5,910.13. The Nasdaq Composite fell 0.5% to 19,061.26. Among sectors, utilities led the gainers, and consumer discretionary paced the declines.

Steris (STE) shares surged 8.4%, the top gainer on the S&P, a day after the company reported fiscal Q4 adjusted earnings and revenue that topped Wall Street's estimates.

Cisco Systems (CSCO) shares climbed 5.1%, the biggest increase on the Dow, a day after the networking equipment maker posted fiscal Q3 results that surpassed the Street's estimates as product demand increased.

UnitedHealth Group (UNH) shares fell 12%. The health insurance giant is facing a criminal investigation by the US Department of Justice over possible Medicare fraud tied to its Medicare Advantage operations, the Wall Street Journal reported.

The 10-year US Treasury yield dropped 8.2 basis points to 4.5%, while the two-year rate declined 7.7 basis points to 4%.

June West Texas Intermediate crude oil fell 2.1% to $61.82 a barrel.

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