US stocks fell on Thursday, with the three major indexes down nearly 0.3%, as investors digested a slew of economic data and concerns about the economic outlook resurfaced. Retail sales rose 0.1% in April, compared with expectations for no change. However, core retail sales, which are more directly linked to GDP, fell 0.3%. Meanwhile, producer prices unexpectedly fell 0.5%, driven largely by a decline in margins, suggesting companies may be absorbing some cost pressures from higher tariffs. Energy, consumer goods and health care were the biggest losers. Apple shares fell 0.2% after President...
European stocks recovered from earlier losses to close above the flatline on Thursday, erasing the slight pullback from last session as markets digested a batch of earnings results and assessed how trade barriers may jeopardize economic growth. The Eurozone's STOXX 50 closed marginally higher at 5,410 and the pan-European STOXX 60 gained 0.5% to close at 546. Healthcare stocks rebounded as investors took advantage of lower valuations due to US President Trump's signals of caps on drug prices, lifting Bayer and Sanofi shares by 3% and 1%, respectively. Utilities also advanced sharply with...
US stocks gained traction, benefiting from reprieve for Treasuries across the curve amid bets that the Federal Reserve will deliver multiple rate cuts this year. The S&P 500, the Nasdaq 100, and the Dow were all close to 0.5% higher. Fresh data showed that headline producer prices fell sharply in April to back the view of disinflation following the softer CPI print this week. Also, core sectors of retail sales unexpectedly contracted in the period, favoring bets that the Fed will adjust monetary policy to support the economy. Industrials, utilities, and pharmaceuticals led the gains. GE...