U.S. stocks closed mixed Thursday, with the S&P 500 rising 0.4% to log a fourth straight day of gains, while the Dow Jones Industrial Average climbed more than 250 points.
The Nasdaq Composite dipped 0.2%, breaking its six-day winning streak.
Markets were buoyed by signs of easing trade tensions after the U.S. and China agreed to temporarily lower tariffs, providing relief to investors concerned about inflation and global growth.
The 10-year Treasury yield fell to 4.44% following a surprise drop in April’s Producer Price Index, which declined 0.5% month-over-month.
Retail sales in April rose just 0.1%, in line with expectations but well below March’s 1.7% surge. Meanwhile, industrial production posted a small decline.
Walmart to raise prices
Walmart said it will raise prices in response to tariffs, signaling ongoing pressure on retailers and consumers. Walmart stock slipped 0.5% after the company withheld profit guidance for the current quarter.
Tech stocks, which have led markets in recent days, took a breather. Meta Platforms fell 4% on reports of a delayed AI rollout, while Nvidia and Tesla remained up around 15% for the week.
Investors also digested comments from Federal Reserve Chair Jerome Powell, who warned of more volatile inflation ahead due to persistent global supply shocks.
Meanwhile, President Trump hinted at possible trade agreements with India and Iran, fueling hopes for further economic tailwinds.
In a standout move, Foot Locker surged nearly 86% after announcing a $2.4 billion merger with Dick’s Sporting Goods. On the downside, UnitedHealth dropped nearly 11% following reports of a DOJ probe, which the company said it had not been officially notified of.
No Comment! Be the first one.