Wall Street ended lower in light trading on Friday as reports showed weak consumer sentiment in August and an unexpected decline in July retail sales. The weak reports prompted investors to lock in gains from the recent rally.
Wall Street finished higher in choppy trade as the upbeat economic data in Europe offset the news of disappointing retail sales in US. Wal-Mart's second-quarter earnings, above analyst's expectations, also helped to lift the market.
US stocks surged overnight as the Federal Reserve said the economy was leveling out, and it left interest rates unchanged at the end of its two-day policy meeting.
US stocks fell overnight ahead of the Federal Reserve's latest decision on monetary policy and guidance on the outlook for recovery from the recession. The market was also weighed down by the worries that the banking sector has yet to fundamentally improve.
Wall Street finished slightly lower overnight after the US stocks hit a fresh high on Friday. Investors locked in profits ahead of economic data due to release this week, including monthly retail sales figures and the Federal Reserve's statement on interest rates and the economy.
An encouraging employment report sent the US stocks to a more than nine months high on Friday. The Labor Department released a report that the country's unemployment rate unexpectedly dropped to 9.4 per cent, its first decline in 15 months.
US stocks fell for a second day on Thursday as investors worried over the key employment figures, which are scheduled to release on Friday. Most economists expect the data will show the unemployment rate climbed to 9.6 per cent, from a 26-year high of 9.5 per cent in June.
