Market Watch: Investors Eye Earnings, Retail Sales

U.S. stocks were mixed on Wednesday, as investors and experts looked towards data points for an indication of when to expect an interest rate hike.

For weeks, Wall Street’s conventional wisdom has held that the first interest rate hike in nearly a decade will occur in 2015—but not likely before September. Today, the hope was that major information from the retail sector may bring added clarity to that picture.

But retail sales figures for April were unchanged, a mild disappointment as a 0.3% increase was predicted. Macy’s, Ralph Lauren and JC Penney were all due to report earnings today. Macy’s reported first, slightly missing expectations.

Treasury yields moved up on the heels of the disappointing data, reaching 2.28% on the 10-year notes.

Here are the final numbers from Wall Street on Wednesday:

Dow Jones Industrial Average: 18,060.49 (-7.74) 

NASDAQ: 4,981.69 (+5.50) 

S&P 500: 2,098.48 (-0.64) 

Phil Cannella

Phil Cannella

As a partner with CBS Radio in Philadelphia, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella
- 6 days ago
Phil Cannella
Phil Cannella
Phil Cannella

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