June 2, 2023


Breaking News Breaf

Wall Street halted the downturn with retail sales

The Dow Jones Industrial Average rose on Friday, posting its first daily gain in four sessions after the release of strong consumer data in the United States, ending a volatile week, on an upward trend.
US retail sales increased more than expected in September, completing a quarter of a year of strong economic activity, but recovery from recession is at a crossroads, as government funds dwindle and the rate of new COVID-19 infections increases across the country.
Retail sales jumped 1.9 percent in the past month, as the US Commerce Department said Friday that consumers bought cars and clothes, dined out and spent on practicing identities.
The Dow Jones index closed up 112.11 points, or 0.4%, at 28,606.31 points. The Standard & Poor’s Index closed with small gains, closing at 3,483.81 points, while the Nasdaq Composite Index ended the day 0.4% lower at 11,671.56 points.
Shares generally gave up most of their gains in the last hour of trading with the return of the selling path to pressure on technology stocks.
The Dow Jones and Standard & Poor’s indexes each achieved third weekly gains in a row, and the Nasdaq index recorded a series of gains over a period of four weeks.