US close: Markets mixed as retailers weigh on indices

Nasdaq 100

20,394.13

12:15 15/11/24

-2.40%

-502.54

Retailers' shares were weighing on US stock benchmarks on Tuesday, while accusations that the president might have shared confidential information with visiting Russian diplomats took its toll on the dollar.

Dow Jones I.A.

43,444.99

04:30 15/10/20

n/a

The Dow Jones Industrial Average finished down 0.01% at 20,979.75 and the S&P 500 lost 0.07% to 2,400.67, although the Nasdaq 100 managed a gain of 0.35% to settle at 5,724.44.

Overnight on Monday, the Washington Post reported Donald Trump had breached the trust of one of its allies, by revealing information regarding a possible Isis plot to target airliners using laptop computers.

On Monday evening, Trump received Russian foreign policy czar Sergei Lavrov and the country's ambassador in the US in the Oval Office.

The report was denied by national security adviser HR McMaster, who said no sources nor the methods used to gather the intelligence had been discussed.

Trump appeared to all but confirm the reports, however, leading to confusion as he told of his right to discuss any information with anyone if he so chooses.

Earlier on Tuesday, Senate majority leader Mitch McConnell told a reporter he'd prefer "less drama" from the White House.

Economic data was somewhat mixed on Tuesday, with figures from the Federal Reserve showing that increased auto output and steady growth in mining sent US industrial production higher by 1.0% month-on-month in April, dwarfing forecasts for a rise of 0.4%.

Housing starts and permits undershot economists' forecasts for the same month, but analysts put the weak data down to the impact from weather-related factors and a shift in the timing of Easter.

On the corporate front, Dick's Sporting Goods was down 13.73% after reporting that first quarter like-for-like sales grew by 2.4%.

Stock in another retailer, TJX Companies, was also on the back foot by 4.08% after the company posted sales of $7.78bn for the latest three-month stretch, undershooting analysts' forecasts calling for $7.88bn.

Ford Motor finished flat on the back of reports that it is planning to cut 10% of its global workforce in order to bolster profits.

Home Depot was a bright spot, adding 0.59% after the DIY specialist nudged its guidance for full-year earnings per share higher on the back of a robust outlook for the housing market.

Dow Jones - Risers

International Business Machines Corp. (IBM) $153.67 1.43%
Microsoft Corp. (MSFT) $69.41 1.43%
McDonald's Corp. (MCD) $147.29 0.69%
Johnson & Johnson (JNJ) $127.77 0.61%
Home Depot Inc. (HD) $158.29 0.59%
Intel Corp. (INTC) $35.82 0.53%
Merck & Co. Inc. (MRK) $63.79 0.44%
United Technologies Corp. (UTX) $121.40 0.40%
Chevron Corp. (CVX) $107.24 0.37%
JP Morgan Chase & Co. (JPM) $87.61 0.31%