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UK and US Retail Sales Rise, But The Markets Are Still Cautious

Yesterday, the European indices took a hit, whereas the US ones were mixed. Asia managed to close today in the positive territory. The US retail sales showed good results yesterday, where they came out better than expected, unlike the US industrial and manufacturing production numbers, which were released 45-minutes after the retail sales figures, have disappointed the market, hence why the indices were not able to push more to the upside straight after the opening bell.

 

Markets Were Mixed

Yesterday, the European indices closed well in the red, most likely still driven by a sharp sell-off on Wednesday. The US equity markets had a mixed close. The Dow Jones Industrial Average and the S&P 500 manged to stay slightly in the positive territory, whereas the Nasdaq still ended the day fractionally in the red. The help for Dow and the S&P came the better-than-expected retail sales figures, but the US indices were still halted from moving higher by the industrial and manufacturing numbers on a MoM basis for July, which came out as a slight disappointment. Asian indices have gained today, where they managed to recover some of their losses made during the week. The Asian markets welcomed the news from China, which is believed to try and boost disposable incomes in the near term. But the markets still remain under pressure by the current geopolitical tensions, which could weigh in on them in a negative way at any point. The temporary delay on certain Chinese goods could get removed very easily, causing bigger problems for the equity markets.  

US Data

As mentioned above the US retail sales showed good results yesterday. The MoM figure for July was at...

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Friday, 16 Aug, 2019 / 8:07

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Source : https://www.jfdbank.com/en/research/uk-and-us-retail-sales-rise-but-the-markets-are-still-cautious-20190816

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