NEW YORK: Wall Street stocks were little changed early Thursday following solid US sales data as markets digested countervailing moves by different central banks on interest rates.
US retail sales in May rose 0.3 percent from April to $686.6 billion, more than analysts had expected. Sales at gasoline stations fell, but rose in other venues, such as restaurants and bars.
Meanwhile, the European Central Bank lifted interest rates for an eighth consecutive time to a two-decade high.
The move come a day after the US Federal Reserve held rates steady, while signaling it expects more hikes in 2023. China’s central bank, meanwhile, cut a key interest rate.
About 15 minutes into trading, the Dow Jones Industrial Average was up 0.2 percent at 34,057.66.
The broad-based S&P 500 added 0.1 percent at 4,376.97, while the tech-rich Nasdaq Composite Index slipped 0.1 percent to 13,613.03.
Markets also had a muted reaction to Wednesday’s move by the Fed, with the Dow retreating and the other two indices advancing after the news.
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