U.S. Stocks Show Mixed Performance Amid Trade Developments
U.S. stocks ended Thursday with mixed results. the S&P 500 gained 0.4%, marking its fourth consecutive day of growth. The Dow Jones Industrial Average rose over 250 points.however, the Nasdaq Composite fell 0.2%, ending its six-day winning streak.
Markets were encouraged by easing trade tensions.The U.S. and China agreed to temporarily reduce tariffs, easing concerns about inflation and global growth. The 10-year Treasury yield dropped to 4.44% after April’s Producer Price Index unexpectedly fell 0.5%.
Retail sales in April increased by just 0.1%, matching expectations but far below March’s 1.7% jump. Industrial production also saw a slight decline.
Walmart announced it will raise prices due to tariffs, putting pressure on retailers and consumers. Its stock fell 0.5% after withholding profit guidance for the current quarter. Tech stocks paused, with Meta Platforms dropping 4% due to a delayed AI rollout. Nvidia and Tesla, though, remained up about 15% for the week.
Federal Reserve Chair Jerome Powell warned of more volatile inflation due to global supply shocks. President Trump suggested potential trade deals with India and Iran, boosting economic hopes.
Foot Locker soared nearly 86% after announcing a $2.4 billion merger with Dick’s sporting Goods. UnitedHealth, however, fell nearly 11% following reports of a DOJ probe.
