Stocks Rise on Lower Oil Prices and Strong US Retail Sales
U.S. stock markets showed mixed performance as the S&P 500 rose by +0.18%, while the Dow Jones fell -0.23% and the Nasdaq climbed +0.68%. The broader market was supported by a decline in crude oil prices, which eased inflation concerns and lowered bond yields. Crude prices dropped after U.S. crude inventories increased unexpectedly according to API data, with further details expected from EIA later that day. Positive economic signals also contributed to the rally as August retail sales rose +1.2% month-over-month—surpassing expectations of +0.8%. Excluding autos, retail sales climbed even more sharply at +1.4%, marking a five-month high. The Federal Reserve is expected to raise interest rates by 25 basis points today for the first time since 2023 due to persistent inflation. Chipmakers like Intel gained over +6% after reports of potential collaboration with SK Hynix on U.S.-based memory chip production.
