S&P 500 (NYSEARCA: SPY) Live: Markets Retreat on US-China Trade Jitters
This article will be updated throughout the day, so check back often for more daily updates. The markets are once again seeing the glass as half empty, as the “one step forward, two steps back” trend continues. This time, the apparent unraveling of the U.S. and China trade deal is to blame, with all three […] The post S&P 500 (NYSEARCA: SPY) Live: Markets Retreat on US-China Trade Jitters appeared first on 24/7 Wall St..
This article will be updated throughout the day, so check back often for more daily updates.
The markets are once again seeing the glass as half empty, as the “one step forward, two steps back” trend continues. This time, the apparent unraveling of the U.S. and China trade deal is to blame, with all three major stock market averages opening lower after President Trump revealed China had broken the agreement. The SPY ETF is down 0.14%, while the S&P 500 is still on track for a gain of 1.75% for the week.
However, it’s not all bad news. The economy is still showing signs of holding off inflation. Consumer prices barely budged in April, with the personal-consumption-expenditures price index rising just 0.1%. This index, which the Fed closely monitors for inflation trends, was up 2.1% over the 12 months leading to April, a dip from 2.3% the previous month, suggesting progress toward the Fed’s 2% target. Consumers also remain a strong point, with spending inching up by 0.2% last month and personal income seeing a healthy 0.8% increase.
Market Movers
Resilient consumers are sticking with their beauty routines. Ulta Beauty (Nasdaq: ULTA) notably raised its full-year guidance as product sales continue to soar, sending the stock up 14.5% today.
Palantir Technologies (Nasdaq: PLTR) is up 2% today. The AI-powered data analytics software company is seeing gains from expanded government contracts, according to The New York Times. While its share price hit new record highs in May, it has since pulled back from those levels.
PC maker Dell (Nasdaq: DELL) is also up 2.5% after surpassing its Q2 earnings estimates.
On the downside, Regeneron Pharma (Nasdaq: REGN) is spiraling by 18.4% following disappointing drug trial results for its smoker’s lung treatment, which had previously shown promise.
Finally, Cooper Companies (Nasdaq: COO) is down 13.9% after announcing its Q2 results
The post S&P 500 (NYSEARCA: SPY) Live: Markets Retreat on US-China Trade Jitters appeared first on 24/7 Wall St..
