ANL 15.88 Decreased By ▼ -0.27 (-1.67%)
ASC 13.50 Decreased By ▼ -0.42 (-3.02%)
ASL 18.30 Decreased By ▼ -0.47 (-2.5%)
BOP 8.88 Increased By ▲ 0.13 (1.49%)
BYCO 7.35 Decreased By ▼ -0.19 (-2.52%)
FCCL 18.09 Increased By ▲ 0.30 (1.69%)
FFBL 23.10 Increased By ▲ 0.02 (0.09%)
FFL 15.30 Increased By ▲ 0.05 (0.33%)
FNEL 7.11 Decreased By ▼ -0.14 (-1.93%)
GGGL 16.86 Decreased By ▼ -0.04 (-0.24%)
GGL 28.15 Decreased By ▼ -1.05 (-3.6%)
HUMNL 6.64 Increased By ▲ 0.16 (2.47%)
JSCL 19.60 Decreased By ▼ -0.50 (-2.49%)
KAPCO 27.00 Decreased By ▼ -1.15 (-4.09%)
KEL 3.43 No Change ▼ 0.00 (0%)
MDTL 2.18 Decreased By ▼ -0.06 (-2.68%)
MLCF 35.01 Decreased By ▼ -0.11 (-0.31%)
NETSOL 103.75 Decreased By ▼ -5.20 (-4.77%)
PACE 4.18 Decreased By ▼ -0.17 (-3.91%)
PAEL 27.15 Decreased By ▼ -0.85 (-3.04%)
PIBTL 8.20 Decreased By ▼ -0.22 (-2.61%)
POWER 6.93 Decreased By ▼ -0.07 (-1%)
PRL 16.44 Decreased By ▼ -0.21 (-1.26%)
PTC 9.08 Decreased By ▼ -0.09 (-0.98%)
SILK 1.50 Increased By ▲ 0.02 (1.35%)
SNGP 40.75 Decreased By ▼ -0.27 (-0.66%)
TELE 17.14 Increased By ▲ 0.41 (2.45%)
TRG 130.36 Decreased By ▼ -3.74 (-2.79%)
UNITY 29.90 Increased By ▲ 0.05 (0.17%)
WTL 2.43 Decreased By ▼ -0.11 (-4.33%)
BR100 4,763 Increased By ▲ 46.96 (1%)
BR30 20,671 Decreased By ▼ -168.62 (-0.81%)
KSE100 45,821 Increased By ▲ 321.94 (0.71%)
KSE30 18,006 Increased By ▲ 181.61 (1.02%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,328
1624hr
Pakistan Cases
1,266,826
62224hr
1.4% positivity
Sindh
466,750
Punjab
438,433
Balochistan
33,149
Islamabad
106,571
KPK
177,132
Markets

US stocks fall after weak July retail sales data

  • S&P 500 dropped 0.8 percent to 4,445.20, while the tech-rich Nasdaq Composite Index tumbled 1.0 percent to 14,640.46
17 Aug 2021

NEW YORK: Wall Street stocks fell early Tuesday following disappointing July US retail sales due in part to a steep drop in car purchases.

All three major indices were solidly negative, with analysts also pointing to worries over rising Covid-19 cases, as well as uncertainty over China's crackdown on its information technology sector.

Stocks also opened lower on Monday, but rallied throughout the day. Both the Dow and S&P 500 finished at all-time highs on Monday.

"Today the early hole is expected to be a little deeper," Briefing.com analyst Patrick O'Hare said in a note shortly before the market opened.

About 25 minutes into trading, the Dow Jones Industrial Average was down 0.9 percent at 35,290.13.

US stocks fall on weak China data

The broad-based S&P 500 dropped 0.8 percent to 4,445.20, while the tech-rich Nasdaq Composite Index tumbled 1.0 percent to 14,640.46.

US retail sales fell a surprising 1.1 percent in July compared to June, a far bigger drop than analysts were expecting, as auto sales collapsed 4.3 percent, the Commerce Department reported.

Restaurants and bars continued to see an upswing in business as customers ventured out despite increasing cases of the Delta variant of Covid-19. Rising prices at gasoline stations also boosted sales there, the data showed.

Among individual companies, Walmart shares rose 0.7 percent as the giant retailer reported another quarter of solid US sales growth and lifted its full-year forecast.

Home Depot slumped 4.8 percent despite reporting record revenues, with analysts pointing to a disappointing performance in same-store sales.

Comments

Comments are closed.