18 November 2020
3288
2 min.
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The stock market declined
US retail sales in October increased by 0.3 percent compared to the previous month. The rate of increase was the lowest in the last six months.
Chairman of the Federal Reserve Bank (FRB) Atlanta Raphael Bostic said: "Compared to the strong recovery that started in May, the 4Q stats may be weak, and we will be monitoring the data closely to see if this weakening of retail sales growth will lead to something more serious".
The National Association of Housing and Construction Companies (NAHB) Confidence Index of American construction companies in the country's economy has once again updated its historical maximum against the backdrop of rising sales. The indicator rose by 5 points in November and reached 90 points. It is breaking records for the fourth consecutive month, says MarketWatch.
The Dow Jones Industrial Average Index fell by 167.09 points (0.56%) to 29783.35 points.
Standard Poor's 500 decreased by 17.38 points (0.48%) to 3609.53 points.
Nasdaq Composite lost 24.79 points (0.21%) and amounted to 11899.34 points.
Shares in Walmart (NYSE:WMT) Inc. fell by 2%, although the largest U.S. retailer increased profits and revenues in the third quarter of fiscal 2020, and its performance exceeded market expectations.
The price of Home Depot Inc (NYSE:HD).dropped 2.5%, even though the 3Q home improvement in financial terms increased net profit and revenue, both of which exceeded expectations, amid strong demand due to the COVID-19 pandemic.
Shares in AT&T Inc (NYSE:T). added 0.2%. The company announced that its Chief Financial Officer, John Stephens, will retire in March 2021.His successor will be Pascal Desroches, who will take office on 1 April.
Tesla (NASDAQ:TSLA) Inc. increased by 8.2% on the news of the inclusion of the electric car manufacturer's shares in the S&P 500 stock index from 21 December.
The market value of Costco Wholesale Corp (NASDAQ:COST). increased by 0.6%. The operator of the largest U.S. chain of club warehouses announced a special dividend payment of $10 per ordinary share.
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