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Wall Street cautiously reacts to Middle East unrest
Wall Street indices experienced volatile trading within narrow ranges after the Standard & Poor's 500 reached a record high the day before, amid assessments of retail sales data and developments in the Middle East. Shares of technology, energy, mining, and industrial companies rose, while chipmakers and chemical stocks declined. Investor sentiment was affected by tensions in the Strait of Hormuz and attacks on ships, along with weak retail sales reports and consumer confidence data. Despite the fluctuations, the indices are preparing to achieve their third consecutive weekly gain, amid expectations that the Federal Reserve will not raise interest rates at the upcoming meeting.
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