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US open: Stocks little changed after US retail sales
13-05-2014 14:58
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US stocks were little changed after a report showed US retail sales rose less than expected last month.
Retail sales grew 0.1% in April following a revised 1.5% increase a month earlier, missing analysts' forecasts for a 0.4% gain.
"The 0.1% month-on-month increase in US retail sales in April gets the second quarter off to a soft start and suggests that real consumption growth in the quarter as a whole may be a bit weaker than we previously expected," Capital Economics said.
On the company front, DirecTV rallied following reports AT&T has held advanced talks to buy the company for about $50bn.
Pfizer advanced following news the the company may increase its bid for AstraZeneca.
Keurig Green Mountain Inc. gained after Coca-Cola Co. boosted its stake in the firm.
Elizabeth Arden Inc. slumped as the beauty products group reported quarterly revenue that missed analysts' estimates.
The 10-year US Treasury yield fell four basis points to 2.62%.
West Texas Intermediate crude futures rose by $0.465 to $101.060 per barrel, according to ICE data.
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Retail sales grew 0.1% in April following a revised 1.5% increase a month earlier, missing analysts' forecasts for a 0.4% gain.
"The 0.1% month-on-month increase in US retail sales in April gets the second quarter off to a soft start and suggests that real consumption growth in the quarter as a whole may be a bit weaker than we previously expected," Capital Economics said.
On the company front, DirecTV rallied following reports AT&T has held advanced talks to buy the company for about $50bn.
Pfizer advanced following news the the company may increase its bid for AstraZeneca.
Keurig Green Mountain Inc. gained after Coca-Cola Co. boosted its stake in the firm.
Elizabeth Arden Inc. slumped as the beauty products group reported quarterly revenue that missed analysts' estimates.
The 10-year US Treasury yield fell four basis points to 2.62%.
West Texas Intermediate crude futures rose by $0.465 to $101.060 per barrel, according to ICE data.
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