US Stocks end mixed

The US stocks were mixed on Thursday, 16 September 2021, with the NASDAQ managed to eke out marginal gain but the Dow and the S&P500 indexes settled below neutral line, amid concerns that the Federal Reserve to follow through on plans to begin tapering its asset purchases later this year after the release of a report from the Commerce Department showing an unexpected rebound in U.S. retail sales in the month of August.

At the close of trade, the Dow Jones Industrial Average index declined 63.07 points, or 0.18%, to 34,751.32. The S&P 500 index fell 6.95 points, or 0.16%, to 4,473.75. The tech-heavy Nasdaq Composite Index was up 20.39 points, or 0.13%, to 15,181.92.

Total 8 of 11 S&P500 sectors declined, with energy (down 1.06%) sector was top loser, followed by materials (down 1.9%), and industrials (down 0.66%) issues, while consumer discretionary (up .44%) issue was top gainer.

Total volume turnover on U.S. exchanges was 7.92 billion shares, down from previous session volume of 8.73 billion shares. In the NYSE exchange, 1521 issues advanced, 1773 issues declined, and 144 issues closed unchanged. In the NASDAQ, 2281 issues advanced, 2158 issues declined, and 216 issues unchanged.

ECONOMIC NEWS: US Retail Sales Recover By 0.7% In August- US retail sales climbed by 0.7% in August after plunging by a revised 1.8% in July, the Commerce Department reported on Thursday. The unexpected increase in retail sales came despite a continued nosedive in sales by motor vehicle and parts dealers, which tumbled by 3.6% in August after plummeting by 4.6% in July. Excluding sales by motor vehicle and parts dealers, retail sales surged up by 1.8% in August after falling by a revised 1.0% in July.

US Weekly Jobless Claims Climb To 332,000 -Initial jobless claims in the US climbed to 332,000, an increase of 20,000 from the previous week's revised level of 312,000, according to a report released by the Labor Department on Thursday. The modest increase came after initial jobless claims fell to their lowest level since March of 2020 in the previous week.

US Business Inventories Rise 0.5% In July-US business inventories rose by 0.5% in July after climbing by an upwardly revised 0.9% in June, the Commerce Department revealed in a report released on Thursday. Wholesale and manufacturing inventories climbed by 0.6% and 0.5%, respectively, while retail inventories rose by 0.4%.

Among Indian ADR, Dr Reddys Labs fell 0.67% to $66.92, Vedanta fell 1.64% to $16.75, Tata Motors fell 0.38% to $21.03, Wipro fell 1.76% to $9.47, and INFOSYS fell 1.2% to $23.09. HDFC Bank added 1.71% to $74.92, WNS Holdings added 0.13% to $81.96, and ICICI Bank added 2.52% to $19.95.

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