US stocks ended the day mixed as traders digest retail earnings and economic data.
Target and Lowe's are due to report on Wednesday, with Home Depot and Walmart also reporting.
Economic data was conflicting. The US housing starts fell short of expectations. The New York Fed's manufacturing gauge fell.
The market closed at 4:00pm on Tuesday.
Home prices could plunge as much as 15% if there is a severe housing downturn, according to a new report. The most likely outcome is a moderate downturn.
Industrial and consumer stocks in the S&P 500 are expected to take a hit from higher labor costs. Analysts said that a further increase in US wage growth would put pressure on the sector and reduce industrials' per-share earnings.
The next leg of the stock rally should be focused on small- cap and cyclical stocks. The rebound of the Russell 2000 index of small-cap stocks is expected to continue.
Saudi Arabia has piled into big-cap US stocks likeAlphabet, Microsoft, and Amazon as a result of its oil profits. The kingdom's fund bought shares of finance companies.
Germany decided to delay the closing of its nuclear power plants due to the European energy crisis. Russia's natural gas supply cuts have opened the door to an extension, even though the plants were supposed to close on December 31.
Germany signed a deal with natural gas suppliers to keep theirliquefied natural gas terminals stocked. Relief will be provided by the new agreement.
The amount of heists in the digital asset space has increased. Between January and July of this year, the firm estimates hackers stole nearly $2 billion.
The price of West Texas Intermediate fell to $86.33 a barrel. The international benchmark fell to $92.01. There were positive signals on the Iran talks.
The price of gold was $1,792.50 per ounce. The yield on the 10-year bond went up.
The price of the virtual currency fell to $23,891.01.
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