U.S. stocks had a bit of a mixed day on Thursday, with the S&P 500 managing to creep up by 0.4% for the fourth day in a row. The Dow Jones Industrial Average also saw some gains, climbing over 250 points. However, the Nasdaq Composite wasn’t so lucky, dipping by 0.2% and putting an end to its winning streak of six days.
Trade tensions seemed to be easing a bit after the U.S. and China decided to lower tariffs temporarily. This news brought some relief to investors who were worried about inflation and global growth. The 10-year Treasury yield dropped to 4.44% following a surprising decrease in April’s Producer Price Index, which went down by 0.5% from the previous month.
Retail sales in April only saw a modest increase of 0.1%, meeting expectations but falling far short of March’s impressive 1.7% surge. On the other hand, industrial production took a little hit. Walmart also made an announcement that they would be raising prices in response to tariffs, adding more pressure on retailers and consumers. The company’s stock slipped by 0.5% after they chose not to provide any profit guidance for the current quarter.
