Wall Street drifted following the latest signal that the U.S. economy remains solid, though perhaps too strong for the Federal Reserve’s liking.
The S&P 500 closed just barely lower Tuesday after flipping between small gains and losses through the day. The Dow added 13 points, and the Nasdaq composite fell 0.3%.
Treasury yields rose in the bond market after a report showed shoppers spent more at U.S. retailers last month than expected. That’s a sign of a healthy economy, but it may also indicate upward pressure on inflation and could push the Federal Reserve to keep interest rates high.
On Tuesday:
The S&P 500 fell 0.43 points, or less than 0.1%, to 4,373.20.
The Dow Jones Industrial Average rose 13.11 points, or less than 0.1%, to 33,997.65.
The Nasdaq composite fell 34.24 points, or 0.3%, to 13,533.75.
The Russell 2000 index of smaller companies rose 18.98 points, or 1.1% to 1,766.05.
For the week:
The S&P 500 is up 45.42 points, or 1%.
The Dow is up 327.36 points, or 1%.
The Nasdaq is up 126.51 points, or 0.9%
The Russell 2000 is up 46.33 points, or 2.7%.
For the year:
The S&P 500 is up 533.70 points, or 13.9%.
The Dow is up 850.40 points, or 2.6%.
The Nasdaq is up 3,067.26 points, or 29.3%
The Russell 2000 is up 4.80 points, or 0.3%.