Indexes Settle Higher After Lackluster Session
Wall Street's focus stayed on retail sales data today, which blew past estimates with a 3% rise in January. Despite this green flag for the country's economic outlook, stocks had to claw their way into positive territory, as investors weighed how the Federal Reserve may respond. The Dow added 39 points, while the S&P 500 and Nasdaq eked out wins as well.
OIL, GOLD SEE STEEP LOSSES
After a weekly rise in U.S. crude inventories of 16.3 million barrels, per the Energy Information Administration (EIA), March-dated West Texas Intermediate crude settled lower. More specifically, oil futures shed 47 cents, or 0.6%, to finish at $78.59 a barrel.
April-dated gold closed at a fresh five-week low, as the greenback found strength. April-dated gold dropped $20.10, or 1.1%, to settle at $1,845.30 per ounce.
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