Traders on the New York Stock Exchange faced a tricky market as they wrapped up their week. Stock futures dropped slightly on Thursday night amid ongoing global trade uncertainty. Futures linked to the Dow Jones fell by 0.1%, while the S&P 500 and Nasdaq-100 saw declines of 0.2% and 0.3%, respectively.
Investors were reacting to new quarterly results. Fashion retailer Gap saw a sharp decline of over 14% after issuing a weaker outlook for the second quarter. In contrast, Ulta Beauty’s shares rose by about 8% due to strong first-quarter performance. Dell Technologies also gained around 2% after reporting solid revenue figures.
Market volatility was influenced by mixed trade news. Recently, a court placed a temporary hold on President Trump’s tariffs but allowed them to stay until the following week. This back-and-forth created further anxiety in a market already worried about economic growth and potential recession triggered by changes in trade policy.
Despite these challenges, stocks appear to be ending May on a high note. The S&P 500 is up over 6% for the month, and the Nasdaq Composite has jumped by 10%. The Dow has also gained about 4%.
Ed Clissold, chief U.S. strategist at Ned Davis Research, mentioned on CNBC that market momentum might continue into summer. However, he cautioned that soon hard data could reveal more concerning trends, especially as we move from the second quarter into the third.
For the week, the S&P 500 rose about 2%, while the Dow and Nasdaq gained 1.4% and 2.3%, respectively. Investors are also waiting for new inflation data from the Federal Reserve’s preferred index, which could further influence market dynamics.
Recent surveys show that many investors are feeling cautious but are hopeful that any future economic data will support market growth. People are closely monitoring these trends on social media, sharing their views on the stability of the market and what the future might hold.
For insights on inflation and consumer trends, you can check this report from the Federal Reserve.
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