(For a live blog on the US stock market, click or type LIVE / in a new window.)
* Applied Materials Inc is increasing with strong outlook for Q4
* Retail sales increase 1.2% in July vs 7.5% profit in June
* CureVac shares nearly triples Nasdaq debut
* Indices: Dow up 0.1%, S&P 500 down 0.05%, Nasdaq down 0.3% (Late afternoon updates)
By Caroline Valetkevitch
Aug 14 (Reuters) – The S&P 500 was flat, hanging below record highs, on Friday when data showed the U.S. economy was still hurting by the COVID-19 pandemic, adding to uncertainty about the recovery.
Aggressive stimulus measures have helped the three major U.S. stock indices bounce back from a coronavirus-driven crash in March, and the S&P 500 briefly traded above its February 19 record close for a second straight day on Thursday.
But the index is unable to finish above the record, partly because the prospects of more fiscal aid with the First Chamber and Second Chamber in recession have disappeared and no fresh talks are planned.
“Investors are taking a break. “We are a long way from the March 23 lows, and there is still a lot of uncertainty regarding the overall economy, as well as the increase in the cases we have seen over the past month or so,” Brian said. Price, Head of Investment for Commonwealth Financial Network.
“I think the market here will tread a little water.”
Data on Friday showed that U.S. retail sales have increased less than last month and could continue to slow due to spiraling COVID-19 cases and a reduction in controls for unemployment benefits.
Individual readings showed that U.S. factory production increased more than expected in July, but remained below pre-pandemic levels, while consumer sentiment was for the most part in the first half of August.
The upcoming US presidential election adds another layer of caution, along with continued outbreaks of the virus in parts of the United States.
The Dow Jones Industrial Average fell 20.38 points, or 0.07%, to 27,917.1, the S&P 500 lost 1.52 points, or 0.05%, to 3,371.91 and the Nasdaq Composite fell 33.64 points. , or 0.3%, to 11,008.87.
The benchmark S&P 500 was still set for a third straight week.
Shares of the German biotechnology company CureVac BV performed strongly in their Nasdaq debut, marking the first launch of the stock exchange by a company that developed a potential vaccine for the new coronavirus.
Applied Materials Inc. gained 3.4% after fourth-quarter revenue exceeded analysts’ forecasts after a rebound in demand for chip equipment and services.
Forward spending is the number less than falling on the NYSE by a 1.13-to-1 ratio; on Nasdaq, a 1.17-to-1 ratio favored declines.
The S&P 500 posted 16 new 52-week highs and no new lows; the Nasdaq Composite recorded 45 new highs and eight new lows. (Additional report by Ambar Warrick and Medha Singh in Bengaluru; Edited by Cynthia Osterman)
.
