During the U.S. Session, global assets made little progress as economic data failed to impress the market.
After a little volatility near the opening, major U.S. indices have been flat for the session. The S&P 500 Index is down 0.63 points, or 0.05 percent, to trade at 1,149.64 at 3:10 pm EST. The Dow Jones Industrial Average is up 6.20 points, or 0.06 percent, to trade at 10,618.04. The Nasdaq Composite is down 0.03 percent.
World markets made progress in the European session, as commodities and stock markets generally rallied. However, most assets hit their highs of the day before the opening of the U.S. stock market.
Futures on the S&P 500 made their highs at 8:36 a.m. EST, a few minutes after the release of U.S. retail sales data. The index quickly declined, hitting the low around 10:15 am EST, and then drifted without much direction for the remainder of the session.
Crude oil futures hit their high at 9:00 a.m. EST and EUR/USD hit its high at 5:40 a.m. EST.
The retail sales report, released by the Census Bureau at 8:30 a.m. EST, showed growth for February and beat expectations. However, the market quickly discounted the results and lost enthusiasm.
Later in the session, the market showed a muted response to a Reuters/University of Michigan Consumer Confidence report that missed expectations.