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 percent.
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 percent, to 4,373.20.
The Dow Jones Industrial Average rose 13.11 points, or less than 0.1 percent, to 33,997.65.
The Nasdaq composite fell 34.24 points, or 0.3 percent, to 13,533.75.
The Russell 2000 index of smaller companies rose 18.98 points, or 1.1 percent to 1,766.05.
For the week:
The S&P 500 is up 45.42 points, or 1 percent.
The Dow is up 327.36 points, or 1 percent.
The Nasdaq is up 126.51 points, or 0.9 percent.
The Russell 2000 is up 46.33 points, or 2.7 percent.
For the year:
The S&P 500 is up 533.70 points, or 13.9 percent.
The Dow is up 850.40 points, or 2.6 percent.
The Nasdaq is up 3,067.26 points, or 29.3 percent.
The Russell 2000 is up 4.80 points, or 0.3 percent.
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