S&P 500 slips 0.17% as weak July retail sales revives US slowdown worries
AI Market Summary
US equities closed modestly lower after July retail sales and consumer sentiment missed expectations, amplifying concerns about slowing demand and earnings sensitivity. While September Fed hike odds edged down, inflation fears pushed 10-year Treasury yields higher, tightening financial conditions and weighing on risk appetite, particularly rate-sensitive growth and semiconductors. Oil rose on renewed Strait of Hormuz tensions, adding to inflation expectations and cross-asset volatility.
Impact level
● Medium
Affected assets
NCSISP5002USD/USDT-0.29%
AI Insight · NCSISP5002USD/USDTAI Insight
▼ Bearish
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U.S. retail sales fell 0.6% m/m in July, far below expectations for a 0.1% increase, while core retail sales excluding autos and gasoline slipped 0.2% m/m versus forecasts for a 0.3% gain, according to the U.S. Commerce Department. The weak consumer data added to concerns about a slowing U.S. economy and softer corporate earnings, pushing the S&P 500 down 0.17%, the Dow down 0.20%, and the Nasdaq 100 down 0.13% on Friday. Odds of a September Fed rate hike edged down to 32% from 35%, but inflation worries helped lift the 10-year Treasury yield by 5 bp, weighing on risk appetite.
