US stocks near flat after mixed retail sales data

NEW YORK: Wall Street stocks were little changed early Thursday following a mixed US retail sales report, as investors tried to extend a rally.

US retail sales grew 0.4 percent from November to December, a slower pace than in November but still a solid increase. From a year ago, retail sales were up 3.9 percent in December.

The data came after consumer price index figures on Wednesday eased concerns that the Federal Reserve will keep interest rates high.

About 15 minutes into trading, the Dow Jones Industrial Average was down 0.1 percent at 43,164.23.

Wall St surges after inflation data

The broad-based S&P 500 was flat at 5,950.07, and the tech-rich Nasdaq Composite Index dipped 0.1 percent to 19,499.71.

Major indices piled on about two percent on Wednesday following strong bank earnings and the US consumer price report.

Among individual companies, UnitedHealth Group fell 2.4 percent as it reported quarterly revenues that missed estimates.

Financial heavyweights Bank of America and Morgan Stanley added to the trove of solid bank earnings. Bank of America dipped 0.5 percent while Morgan Stanley advanced 1.3 percent.