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U.S. stocks are down marginally Tuesday afternoon, failing to sustain at higher levels due to lack of support. <\/p>\n
Data showing a bigger than expected increase in retail sales in the month of September has raised concerns the Federal Reserve will keep interest rates higher for longer. <\/p>\n
While upbeat earnings updates aid sentiment, rising Treasury yields limit market’s upside.<\/p>\n
The Dow is down 107.95 points or 0.31 percent at 33,876.59. The S&P 500 is down 15.02 points or 0.34 percent at 4,358.61, while the Nasdaq is at 13,498.61, down 69.38 points or 0.51 percent.<\/p>\n
Microsoft, Alphabet, Amazon.com, and Apple are struggling for support due to rising bond yields.<\/p>\n
Shares of Bank of America are up sharply thanks to strong earnings. <\/p>\n
Nvida is down more than 3 percent, weighed down by an announcement from the Biden administration that it plans to halt shipments of advanced artificial intelligence chips to China.<\/p>\n
Dollar Tree is up sharply following a rating upgrade of the stock by Goldman Sachs.<\/p>\n
On the economic front, data showed U.S. retail sales advanced 0.7% month-on-month in September, following an upwardly revised 0.8% increase in August. On yearly basis, retail sales increased 3.8% in September, the highest in seven months. In August, retail sales increased by an upwardly revised 2.9%. <\/p>\n<\/p>\n
Business News<\/p>\n<\/div>\n