US EditionWall Street drifts as S&P 500 flirts with its first loss of the week
- U.S. Stocks drifted lower on May 16, 2025, with the S&P 500 down around 0.3% and the Dow Jones falling about 0.3% amid mixed trading in New York.
- This market movement followed a series of mixed economic reports and ongoing uncertainty caused by President Trump's intermittent tariff policies affecting businesses.
- Retail sales growth slowed to 0.2%, inflation eased at the wholesale level, manufacturing remained in contraction, and major firms like Walmart posted stronger profits but faced rising costs.
- Walmart’s shares declined 3.8% despite its profit beat and raised prices due to tariffs, while Dick's Sporting Goods plunged 14.9% after its $2.4 billion bid for struggling Foot Locker, which soared 83.3%.
- The Federal Reserve maintained interest rates but may cut them later in 2025 to support the economy amid tariff-related risks, with Chair Powell warning about persistent supply shocks raising inflation challenges.
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Wall Street drifts lower as S&P 500 flirts with its first loss of the week
NEW YORK (AP) — U.S. stocks are drifting lower following a jumble of mixed reports that shed little clarity on how the U.S. economy is managing through President Donald Trump’s trade war. The S&P 500 slipped 0.4% Thursday and was on track for its first drop of the week. The Dow Jones Industrial Average fell 176 points, and the Nasdaq composite sank 0.7%. Treasury yields also fell following the reports, which altogether suggested the Federal Rese…
·Annapolis, United States
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Total News Sources15
Leaning Left3Leaning Right1Center9Last UpdatedBias Distribution69% Center
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- 69% of the sources are Center
69% Center
L 23%
C 69%
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