investingLive Americas market news wrap: US retail sales modestly beat. Eyes on Iran

Recent economic indicators from the US are significantly impacting the market. Notably, November retail sales came in at +0.6%, exceeding expectations of +0.4%, prompting investors to monitor market reactions closely. In conjunction, the PPI posted a year-over-year increase of +3.0%, above the expected +2.7%. Such data has diminished the likelihood of an interest rate cut by the Federal Reserve. Moreover, a report indicated a build-up in US inventories, but rising political tensions in Iran are also having an impact. Gold and silver prices have reached record highs, with gold updating its previous highs. In the stock market, the S&P 500 fell by 0.7% compared to the previous day, primarily dragged down by tech and financial stocks. In the oil market, a significant increase in gasoline inventories affected prices, but turmoil related to Iran has also contributed to short-term price volatility.