Wall Street opens steady as retail sales and rally momentum balance out

2025-01-18 03:15:17

(MENAFN) US stocks saw minimal movement early Thursday as investors weighed a mixed retail sales report while seeking to build on the previous day’s rally.

Retail sales rose by 0.4 percent from November to December, marking slower growth compared to the previous month but a respectable year-on-year increase of 3.9 percent. The data followed Wednesday's consumer price index report, which helped ease fears of prolonged high interest rates by the Federal Reserve.

About 15 minutes into the session, the Dow Jones Industrial Average edged down 0.1 percent to 43,164.23. The S&P 500 remained flat at 5,950.07, while the tech-heavy Nasdaq Composite slipped 0.1 percent to 19,499.71.

Wednesday's session saw major indices climb roughly 2 percent thanks to robust bank earnings and a favorable inflation report.

In corporate news, UnitedHealth Group dropped 2.4 percent after missing revenue expectations in its quarterly results. Among financial giants, Bank of America fell 0.5 percent, while Morgan Stanley gained 1.3 percent, adding to a streak of strong bank earnings reports.

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