Wall Street today: US Equities are Restrained Amid Mixed Economic Data
US stock indices were flat on Friday amid mixed economic data and as investors waited for further information on President Donald Trump’s reciprocal tariff proposals.
On Thursday, Trump stated that his economics team will prepare plans for reciprocal tariffs on any countries that charge US imports, albeit the mandate did not include any new duties. At 9:40 a.m. ET, the Dow Jones Industrial Average remained constant at 44,711.17. The S&P 500 rose 4.61 points, or 0.08 percent, to 6,119.68, while the Nasdaq Composite rose 4.47 points, or 0.02 percent, to 19,950.12.
US retail sales declined 0.9% in January compared to the previous month. Cold weather and wildfires in California have slowed consumer activity, resulting in a greater dip than projected. Industrial output increased by 0.5% in January, above expectations, as aircraft manufacturing continued to recover following a strike at aviation giant Boeing. In the bond market, the 10-year Treasury yield decreased to 4.47 percent from 4.54 percent late Thursday.
The gainers and Losers:
- Nvidia’s shares rose 1.4 percent. Airbnb shares rose 12.3% after the vacation home rental business reported greater quarterly revenue.
- Applied Materials shares fell 6% despite the business announcing a higher quarterly profit.
- DaVita fell 14.7% as the dialysis company reported lower annual earnings than expected.
