The S&P 500 Index ($SPX) (SPY) today is up +0.10%, the Dow Jones Industrials Index ($DOWI) (DIA) is unchanged, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.05%. March E-mini S&P futures (ESH25) are unchanged, and March E-mini Nasdaq futures (NQH25) are down -0.04%.
Stocks were undercut by today’s weaker-than-expected US Jan retail sales report, which fell by -0.9%, weaker than expectations of -0.2%. Excluding autos, Jan retail sales fell by -0.4%, weaker than expectations of +0.3%. Jan “control group” retail sales, which excludes volatile sectors, fell by -0.8%, weaker than expectations of +0.3%. However, the retail sales report was undercut to some extent by the wildfires in California and severe weather in various areas of the country.
