U.S. markets closed mixed as President Trump met President Putin in Alaska, while retail sales rose 0.5% and inflation data delivered a split picture.
Key moves
- July retail sales climbed 0.5%, matching expectations; ex‑auto sales were 0.3%.
- Import prices increased 0.4%, above the flat forecast, highlighting tariff pressure.
- CPI matched forecasts at 0.3%, but PPI surged 0.9%.
- University of Michigan preliminary consumer sentiment fell to 58.6, below the 62.0 estimate.
- Fed rate‑cut expectations for September dropped to 84 % from 94 %.
- Fed officials, including Goolsbee and nominee Miran, signaled caution amid rising goods and services inflation.
- U.S. Treasury yields edged higher: 2‑year 3.752 %, 5‑year 3.837 %, 10‑year 4.319 %, 30‑year 4.921 %.
- Crude oil prices slipped as the Trump‑Putin summit raised hopes for a Ukraine cease‑fire.
- Equity indices were mixed: Dow up 34.86 points (0.8 %) to 44,946.12; S&P 500 down 0.29 % to 6,449.80; Nasdaq down 0.40 % to 21,622.98.
- Baker Hughes oil‑rig count rose by one to 412.
- Atlanta Fed GDP remained unchanged at 2.5 %.
- New York Fed manufacturing index hit 11.90 versus a 0.00 estimate.
- Canada manufacturing sales slipped to 0.3 % versus 0.4 % expected.
- Trump warned, “If the Putin meeting does not go well, I would walk.”
- Putin landed on U.S. soil for the summit, while the U.S. dollar was higher at the start of trading.
- European markets wrapped with the dollar easing lower ahead of U.S. retail sales.
(Source)
