Mixed Trends in New York Stock Market... S&P 500 to Retry Reaching Record High Next Week

[Asia Economy New York=Correspondent Baek Jong-min] The New York stock market closed mixed. The S&P 500 index postponed its record high breakthrough to next week.

On the 14th (local time), the Dow Jones Industrial Average rose 34.30 points (0.12%) to close at 27,931.02, the S&P 500 index fell 0.58 points (0.02%) to 3,372.85, and the Nasdaq index dropped 23.20 points (0.21%) to 11,019.30.

The weekly gains were 1.81% for the Dow, 0.64% for the S&P 500, and 0.08% for the Nasdaq.

CNBC reported that despite no agreement on the stimulus bill, the market has not collapsed, and it is expected that the stock market will continue to move sideways until an agreement is reached.

The consumer-related economic indicators released that day were mixed. The Commerce Department announced that retail sales in July increased by 1.2% compared to the previous month, falling short of the Dow Jones consensus forecast of a 2.3% increase.

The University of Michigan's August Consumer Sentiment Index rose to 72.8 from 72.5 in the previous month, exceeding the market expectation of 71.0.

Industrial production in July, announced by the Federal Reserve (Fed), increased by 3.0%, surpassing the market expectation of a 2.8% increase.

Apple's stock price, which attracted attention for approaching a market capitalization of $2 trillion, closed down 0.089%.

Gold closed at $1,949.80 per ounce, down 1.1% ($20.60). The weekly decline was 3.9%, marking the first weekly drop in 10 weeks since early June.

West Texas Intermediate (WTI) crude oil from India closed down 0.5% ($0.23) at $42.01 per barrel.