Wall Street turned in a mixed performance after a fresh report on retail sales and a new oil price record told investors the same old story – the economy is hurting and costs are rising, but things could be worse.
Today’s trading reflected the market’s ongoing uncertainty about the economy.
Brian Gendreau, investment strategist for ING Investment Management, believes investors won’t get a clear picture until more data is released in June and July.
According to preliminary calculations, the Dow Jones industrial average fell 44.13, or 0.34 percent, to 12,832.18, having soared 130 points on Monday.
Broader indexes closed mixed. The Standard & Poor’s 500 index fell 0.54, or 0.04% to 1,403.04, and the Nasdaq composite index rose 6.63, or 0.27% to 2,495.12.