US Retail And Food Service Sales Top Estimates – Acadiana Business Index
U.S. stocks mostly advanced as retail sales growth topped estimates as the Dow Jones Industrial Average added 72 points. Mark Lasseigne has your market update for Monday's Acadiana Business Index.
- U.S. retail and food service sales rose in March, topping expectations.
- Other data was less encouraging. U.S. home builders' confidence in the housing market fell in April, while New York manufacturing activity slowed sharply in April, and U.S. business inventories rose in February.
In corporate news,
- Mattel shares slid 9.7%. The toy maker reported quarterly results that fell short of estimates, as sales of Barbie and Hot Wheels brands declined.
- Avon reiterated its opposition to Coty's buyout bid, saying the offer undervalues the company. Coty is the world’s largest fragrance company. Avon's shares fell 2%.
- And, Gannett, the largest U.S. newspaper publisher, tumbled 6.4% after reporting first-quarter revenue that fell short of analysts' estimates.
- Light sweet crude settled at $102.92 a barrel.
- And, gold closed at $1,649 an ounce.
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