Wall Street mixed on retail sales, Caterpillar deal

07:46, November 16, 2010      

Email | Print | Subscribe | Comments | Forum 

Wall Street ended mixed on Monday as major indexes failed to hold gains on strong retail sales and Caterpillar's deal.

The U.S. Commerce Department said on Monday that retail sales rose 1.2 percent in October due to a big jump in auto demand. It was the fourth straight gain in retail sales, and doubled what analysts had expected.

The report showed gains across most categories. Motor vehicle and parts purchases surged 5.0 percent last month, after rising 1. 5 percent in September. Building materials and garden equipment sales rose 1.9 percent last month, the largest gain since April, after increasing 1.3 percent in September.

Core retail sales, which exclude autos, gasoline and building materials, rose 0.2 percent after a 0.4-percent increase in September.

Inventories increased 0.9 percent in September while business sales increased 0.5 percent, the Commerce Department said in another report. Continued strong gains in inventories and sales are seen as encouraging signs that the economic recovery will continue.

The increase was led by a 1.5-percent rise in inventories held by wholesalers. Inventories at the retail level rose 0.8 percent while manufacturing inventories increased 0.7 percent.

However, New York regional manufacturing index fell in November for the first time in more than a year.

Caterpillar Inc., the world's largest construction and mining equipment maker, said on Monday it has agreed to buy Bucyrus International Inc. for 7.6 billion U.S. dollars in cash, which is seen as the company's latest step to expand in emerging markets.

The Dow Jones industrial average added 9.39, or 0.08 percent, to 11,201.97. The Standard &Poor's 500 index was down 1.46 points, or 0.12 percent, to 1,197.75 and the Nasdaq declined 4.39 points, or 0.17 percent, to 2,513.82.

Crude prices were little changed after the retail sales report. Light, sweet crude for December delivery slipped 2 cents to settle at 84.86 dollars a barrel on the New York Mercantile Exchange.

In London, Brent crude rose 36 cents to 86.70 dollars a barrel on the ICE Futures exchange.

Source: Xinhua

(Editor:李佳)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)
  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)
  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
Hot Forum Discussion