The broad S&P 500 capped February narrowly lower, its third monthly drop in a row.
The bulls and bears have been locked in a battle as economic data released recently have painted a mixed picture. On one hand, manufacturing data have shown the sector is struggling from trouble in the energy sector and a strong dollar that makes the price of US goods more expensive abroad.
However, the American consumer appears to be resilient, as data have shown the labour market remains robust, wage growth is beginning to rise and inflation continues climbing toward the Fed’s target level.
The patchy data led to several large rallies and sell-offs throughout February, leaving the S&P 500 little changed for the month.