From NASDAQ:

Stocks are trading lower today with the S&P 500, Dow Jones, and Nasdaq all down. Bearish economic reports are driving the decline, including a stagflation outlook due to strong PPI and weak retail sales. U.S. initial unemployment claims fell and continuing claims rose slightly. Inflation concerns remain as Fed Chair Powell hints at possible interest rate cuts.

Global markets are mixed, with European government bond yields higher. T-notes prices are down due to strong PPI and bearish unemployment claims, but found support from weaker retail sales. ECB member Stournaras supports two rate cuts by August. Chip stocks are down, but megacap tech stocks are up. U.S. Steel plunges, Dollar General fades despite strong guidance.

Stocks like Meta, Dollar General, and Dick’s Sporting Goods see movement after news. Citigroup gets an upgrade, Oracle sees gains. Robinhood rises on positive operating data while Lithium Americas jumps on a loan approval. Bitcoin hits a new high before dipping. Apple, Amazon, and U.S. Steel make headlines. Earnings reports from Dollar General, Dick’s Sporting Goods, Ulta Beauty, and more.



Read more at NASDAQ: Stocks Succumb to Bearish PPI and Retail Sales Reports