FX.co ★ S&P 500 Extends Gains for Fourth Day

On Thursday, US stock markets exhibited a mixed performance as investors weighed various factors including earnings reports, economic indicators, and continuing trade uncertainties. The S&P 500 marked its fourth consecutive increase, rising by 0.3% buoyed by Cisco's 4% surge following an optimistic AI-related forecast. In contrast, the Dow Jones Industrial Average climbed by over 250 points, while the Nasdaq 100 declined by 0.3%, influenced negatively by Amazon and Meta. UnitedHealth experienced a significant drop, falling over 11% in response to news of a federal criminal investigation, thereby exerting pressure on the healthcare sector. Retail behemoth Walmart saw a 1% decline after cautioning about potential price hikes due to tariffs, although it reported sales figures exceeding expectations. In contrast, General Electric's stock rose by 3% after Qatar placed Boeing's largest wide-body aircraft order, solely powered by GE engines. In the realm of economic data, retail sales showed signs of slowing in April, and wholesale inflation experienced an unexpected decline, alleviating some inflationary concerns and resulting in lower Treasury yields. Federal Reserve Chair Jerome Powell cautioned about ongoing economic uncertainties and possible supply chain disruptions, which kept market sentiment cautious despite recent optimistic developments in US-China trade relations.