Wall Street appears to be direly looking for avenues of positivity to latch onto, as the coveted American indices made a comeback at the beginning of the new week.
The US markets made a much-needed comeback in the intraday trade on Monday, after fairing poorly in the previous trading week.
US Sales Data
This came to pass after retail sales data poured in; the data was weaker than expected; however, the numbers were not as underwhelming. This comes to pass at a time when fears of inflation are looming all over the US market and the global market at large.
Retail sales for the month of February rose by 0.2 per cent. This figure missed the forecast of a 0.6 percent. Meanwhile, most sales figures lined up with the estimation.
Donald Trump and his tariff gambit are not paying off, and the consequences of the same are being witnessed at the equity markets.
The trading on Monday, therefore, was a welcome change. And the sales figures shine a light on the consumption pattern.
Dow Jones Industrial Average
The Dow Jones Industrial Average, the oldest of all the indices, closed with gains of 0.85 per cent or 353.44 points.
This took the overall value of the Dow to 41,841.63 points.
S&P 500
The S&P 500 index also saw a boost in its numbers. It progressed at a steady pace, until the end of the trading session, wherein it slowed down.
At the end of the day, the index grew by 0.64 per cent or 36.18 points. This took the overall value of the index to 5,675.12 points.
Nasdaq Composite
The tech-heavy Nasdaq Composite also made gains. The index closed for the day’s trade with minor gains.
The Nasdaq closed at 17,808.66 points. This came to pass after the Nasdaq Composite index made marginal gains of 0.31 per cent or 54.58 points.
With this positive start, it remains to be seen, whether the momentum will continue.
