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US stocks opened higher, the Dow Jones at a record high

2019-07-16 02:09 pm | Resource: NEWS | No Views : 75

 US stocks opened higher, the Dow Jones at a record high

Stocks in the US stock market started trading Tuesday almost unchanged after many important earnings reports. Johnson, Johnson, JPMorgan Chase & Co. and Wells Fargo posted higher-than-expected earnings in the second quarter of the fiscal year, as did Goldman Sachs Group, despite a drop in income due to deteriorating investment management and investment banking.

Meanwhile, the US Census Bureau announced that retail sales in the country rose 0.4% in June from the previous month, while the Federal Reserve said that industrial production remained on the same month on a monthly basis.

US industrial production remained unchanged in June

Industrial production in the United States did not change in June from the previous month, according to data released by the Federal Reserve on Tuesday. On an annual basis, total industrial production rose by 1.3% compared to June 2018, but industrial output for the second quarter of 2019 decreased by 1.2% year-on-year.

Industrial production rose 0.4% on a monthly basis, driven by a 3% rise in vehicle and spare parts production, while mining increased 0.2% month-on-month. Increases in manufacturing and mining were offset by a 3.6% decrease in utilities.

At the same time, the industrial production capacity in June reached 77.9%, down 0.2 percentage points on a monthly basis and by 1.9 percentage points from its long-term average.

US retail sales rose 0.4% in June

The US Federal Bureau of Statistics said in a report released on Tuesday that seasonal estimates for retail and food services for June in the United States increased by 0.4% to 519.9 billion dollars compared to the previous month. On an annualized basis, retail and food services rose by 3.4%.

Retail sales rose by 0.4% in June from the previous month and jumped 3.3% yoy. Health and personal care stores added 5.5% year-on-year, while non-department stores rose 13.4% y / y.

Retail sales and food services data for May were revised down from 0.5% month-on-month to 0.4%.

US Stocks Open
  • The Dow Jones Industrial Average was almost flat, rising just 0.02% at 9:38 to hit its highest level of the day. Goldman increased more, as it rose above 1%.
  • The Nasdaq 100 was down 0.16% with Western Digital Corp falling 2.79%.
  • The S & P 500 was flat at 9:30 am Eastern Time, with CarMax Inc. By 5.04%.

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