US stocks mixed as US retail sales beat expectations

<p>The US’s stocks are mixed today after the Commerce Department revealed December sales beat expectations.</p>

The main US stock indices were mixed today (January 16th) after official figures showed the nation's retail sales exceeded expectations over the Christmas period.

According to the Commerce Department, demand in December rose by 0.5 per cent to $415.7 billion (£259 billion) compared to the previous month, while year-on-year this figure rose by 4.7 per cent.

US consumer spending accounts for around 70 per cent of the country's economic activity and therefore a prosperous festive period is good news for the world's largest economy.

Demand for cars and car parts rose by 1.6 per cent compared to November, while furniture sales and personal care item purchases increased by 1.4 per cent.

Analysts had originally anticipated last month's sales to inch up by just 0.2 per cent.

At 16:40 GMT, the Dow Jones slipped by 0.1 per cent to an index value of 13516.2 points, while the technology-heavy Nasdaq rose by 0.2 per cent to 3119 points.

Find out about the New York stock market and spread betting strategies at City Index.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.