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S&P 500 hits all-time high on retail sales cheer; travel stocks slide

Main stock indexes in the United States are eyeing a third straight yearly gain, with the benchmark S&P 500 on track to close out the year 26.4% higher

Wall Street, US stocks, S&P, Dow Jones
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The S&P 500 retailing index firmed 0.5%

Reuters
The S&P 500 hit a record high on Monday, as a strong retail sales report underscored the strength of the economy and overshadowed worries from Omicron-driven flight cancellations at the start of this year's final trading week.

Retail sales in the country rose 8.5% during this year's holiday shopping season from Nov. 1 to Dec. 24, powered by an ecommerce boom, a report by Mastercard Inc showed.

The S&P 500 retailing index firmed 0.5%.

"Despite the variant and travel interruptions, retail sales were up strongly, which bodes well for the economy going into the new year," said Peter Cardillo, chief

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)