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Midday Market Update

Retail Sales and Bank Earnings Data Push US Shares High

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U.S. Markets
U.S. stocks were higher as the Commerce Department released figures that showed retail sales grew by 0.6% in December. Higher demand for cars fueled the growth. The Dow and S&P were up 0.09% and 0.29%, respectively. Nasdaq edged up 0.57%. Gold was trading for $1194.40 per ounce, down 0.45%

The national average price of unleaded gasoline has been increasing steadily, from $2.21 per gallon at the end of October to $2.351 this morning. The oil industry and commodity traders will keep a close eye on OPEC compliance and wait for the release of the first output report, which is expected in mid-February.  

Manjul Bhusal Sharma does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.