US stock market opens mixed after weak retail data

ANKARA

The Dow Jones and S&P 500 opened flat on Tuesday after record highs in the previous session, while Nasdaq started to climb, despite weak retail sales data.

The blue-chip Dow Jones was down 47 points to 32,906 and the S&P 500 added 3 to 3,972 at 9.36 a.m. EDT (1336GMT).

The Nasdaq jumped to 13,542 after adding 82 points with Airbnb adding 2%, while Facebook, Twitter, and Google's parent, Alphabet, each gaining more than 1%.

Despite a two-month rally, the yield on 10-year US Treasury notes was down 0.5% to 1.599% for a second consecutive day, easing investors' fear amid inflation, which triggered a 0.9% decline in the VIX volatility index, also known as the fear index, to 19.85.

Retail sales were much lower than expected, falling 3% in February from the previous month because of severe winter conditions last month, according to figures released by the Census Bureau.

While analysts expected a 0.5% decline, the change for January was revised up from an increase of 5.3% to 7.6% with investors' strong expectation about President Joe Biden's $1.9 trillion relief bill passing Congress that provides $1,400 direct checks to most individuals.

Most of the decline in retail sales came from department stores that saw an 8.4% decrease, followed by sporting goods, hobby, musical instrument, and book stores falling 7.5%.

ANKARA

The Dow Jones and S&P 500 opened flat on Tuesday after record highs in the previous session, while Nasdaq started to climb, despite weak retail sales data.

The blue-chip Dow Jones was down 47 points to 32,906 and the S&P 500 added 3 to 3,972 at 9.36 a.m. EDT (1336GMT).

The Nasdaq jumped to 13,542 after adding 82 points with Airbnb adding 2%, while Facebook, Twitter, and Google's parent, Alphabet, each gaining more than 1%.

Retail sales were much lower than expected, falling 3% in February from the previous month because of severe winter conditions last month, according to figures released by the Census Bureau.

Most of the decline in retail sales came from department stores that saw an 8.4% decrease, followed by sporting goods, hobby, musical instrument, and book stores falling 7.5%.