US stocks are trading mixed as investors weigh the biggest retail jump since March

New York Stock Exchange
  • Shares were mixed after a rise in U.S. retail sales in October.
  • Retail sales came in at 1.7%, which exceeded expectations as inflation remains around 30 years high.
  • St. Louis Fed President James Bullard suggested that the Fed could begin rate hikes before the downsizing ends.

Shares were mixed on Tuesday after U.S. retail sales rose more than expected last month, while investors rated high-profile comments from St. Louis. Louis Federal Reserve President James Bullard as inflation stays high for several years.

Major Wall Street indices came from lower levels after government data showed retail sales rose 1.7% last month to a new record high of $ 638.2 billion. The print beat the median forecast for a 1.1% jump from economists surveyed by Bloomberg. The report also showed that consumer spending increased relative to the pace of September.

Here’s where US indices stood at 9:30 a.m. Tuesday:

The increase in retail sales took place as inflation hovered around 30-year highs. Bullard said in an interview with Bloomberg on Tuesday that he agrees with the pricing in the markets for two Fed rate hikes that will take place in 2022, and he suggested that the central bank could start raising interest rates before ending its process of downsizing asset purchases.

Around the markets, gold rose 0.1% to $ 1,864.07 per share. ounce. The 10-year interest rate rose to 1.629%.

Oil prices won out. West Texas Intermediate crude rose 0.6% to $ 81.33 per barrel. barrel. Brent, the oil’s international benchmark, rose 0.5% to $ 82.43.

Bitcoin fell 4.5% to $ 60,897.80.

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