US shares closed mixed today, paring earlier gains on data showing robust US retail sales ahead of the all-important holiday shopping season and news of a massive acquisition by Caterpillar.
The blue-chip Dow Jones Industrial Average rose 9.39 points (0.08 per cent) to 11,201.97 in closing trades. The S&P 500 index, a broader measure of the market, lost 1.46 points (0.12 per cent) to 1197.75.
The tech-rich Nasdaq slipped 4.39 points (0.17 per cent) to 2513.82.
Before the markets opened, data showed US retail sales rose faster than expected in October with the auto sector leading the way.
Retail and food services rose 1.2 per cent from September, according to the Census Bureau, rising to over 373 billion dollars.
That was much better than the 0.7 per cent increase expected by economists.
"All in all, the retail sales report is another key data point that suggests the US economy is on a growth path that holds potential to produce some positive surprises," said Patrick O'Hare of Briefing.com.
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Sentiment was nevertheless hurt by data showing New York state manufacturing unexpectedly plunged in November, the first contraction since July 2009 when the US economy exited recession.
Traders also were digesting news of Caterpillar's takeover of a US mining equipment supplier in an 8.6 billion dollar deal.
Caterpillar, the world's largest heavy equipment maker, said it would buy Bucyrus International in an 8.6 billion dollar stock-and-debt deal as the US giant looks to tap into emerging markets.
The massive transaction "is based on Caterpillar's key strategic imperative to expand its leadership in the mining equipment industry," the company said in a statement.
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