US shut: S&P 500 ends lower on weak CPI, fashion retailers drag – DIGITALLOOK

Weak readings on inflation and retail gross sales despatched the S&P 500 to its first weekly loss in three with retailers once more bearing the brunt of promoting.

The Dow Jones Industrial Common fell by Zero.11% to 20,896.61, alongside a dip of Zero.15% for the S&P 500 whereas the Nasdaq Composite managed to eke out a better shut, rising Zero.09% to complete at 6,121.23.

For the week, the S&P 500 misplaced eight.39 factors after hitting a recent file excessive on Wednesday, with the CBoE's VIX volatility gauge ending .89% lower on Friday at 10.40.

"We're ending one other week with shares at file highs and volatility at all-time low. This week was notably good for the tech-heavy Nasdaq as Apple topped a market cap of $800bn for the primary time. Issues are very calm proper now – and that’s usually what occurs earlier than the following panic," LCG's Jasper Lawler informed purchasers in a be aware.

The worst performing industrial teams had been: Heavy development (-2.79%), Attire retailers (-2.75%), Tires (-2.60%), Furnishing (-2.03%) and Retail REITs (-2.02%).

Weaker-than-anticipated US inflation information on the finish of the week despatched the yield on the benchmark 10-year US Treasury be aware diving by seven foundation factors to 2.33%.

The speed of features in US shopper costs slipped from 2.Four% year-on-year in March to 2.2% for April (consensus: 2.Three%), in line with the Bureau of Labor Statistics.

Core CPI additionally got here in shy of forecasts at .9% on the 12 months, following an increase of two.Zero% within the prior month (consensus: 2.Zero%).

After Friday's lower-than-anticipated CPI print, analysts at Barclays reaffirmed their prediction that the US Federal Reserve would go forward with a 25 foundation level fee hike in June.

"At present’s information don't alter our view that the Federal reserve will tighten coverage in June. Labor markets stay robust, and communications from FOMC members have been clear that they continue to be targeted on a tightening coverage path. We predict softer-than-anticipated CPI prints for March and April are unlikely to discourage the FOMC from motion," stated Barclays's Blerina Uruci.

Certainly, for now at the very least Fed funds futures had been nonetheless pricing 78.5% odds a 25 foundation level June rate of interest hike by the Fed.

Nonetheless, talking earlier throughout the identical session the president of the Federal Reserve financial institution of Chicago, Charles Evans, reportedly indicated only one extra rate of interest hike in 2017 was a potential situation.

Within the company area, shares in JC Penney dived after the fashion retailer posted weaker than anticipated first quarter gross sales of $2.7bn. It was additionally essentially the most closely traded challenge on the NYSE.

Division retailer operator Nordstroms misplaced 10.84% regardless of beating analysts forecasts for backside line development within the first quarter, albeit amid a Zero.eight% drop in like for likes over these three months.

Eli Lilly shares had been lower even after it stated a late-stage examine of a migraine therapy met its major objectives.

Worldwide petroleum service firm Tidewater tanked after it introduced a chapter plan.

Dow Jones - Risers

Apple Inc. (AAPL) $156.10 .40%
McDonald's Corp. (MCD) $145.36 Zero.80%
Visa Inc. (V) $92.73 Zero.68%
Home Depot Inc. (HD) $156.92 Zero.46%
E.I. du Pont de Nemours and Co. (DD) $79.30 Zero.43%
Johnson & Johnson (JNJ) $123.64 Zero.36%
Walt Disney Co. (DIS) $109.69 Zero.10%
Travelers Company Inc. (TRV) $120.59 Zero.04%
Procter & Gamble Co. (PG) $86.19 Zero.02%
Exxon Mobil Corp. (XOM) $82.55 -Zero.07%

Dow Jones - Fallers

General Electric Co. (GE) $28.27 -2.08%
Merck & Co. Inc. (MRK) $63.57 -.33%
Unitedhealth Group Inc. (UNH) $171.81 -Zero.87%
Goldman Sachs Group Inc. (GS) $222.82 -Zero.86%
American Express Co. (AXP) $77.49 -Zero.55%
Wal-Mart Stores Inc. (WMT) $75.71 -Zero.55%
Cisco Systems Inc. (CSCO) $33.45 -Zero.54%
Intel Corp. (INTC) $35.53 -Zero.45%
Verizon Communications Inc. (VZ) $45.84 -Zero.39%
Boeing Co. (BA) $183.25 -Zero.38%

S&P 500 - Risers

Wynn Resorts Ltd. (WYNN) $125.29 2.50%
Southwestern Energy Co. (SWN) $7.66 2.41%
Broadcom Limited (AVGO) $235.96 2.11%
Alcoa Corporation (AA) $31.79 2.02%
Exelon Corp. (EXC) $34.13 .88%
Mallinckrodt Plc Ordinary Shares (MNK) $46.79 .56%
Salesforce.Com Inc. (CRM) $89.04 .52%
Amazon.Com Inc. (AMZN) $961.35 .45%
Netflix Inc. (NFLX) $160.81 .43%
Apple Inc. (AAPL) $156.10 .40%

S&P 500 - Fallers

Nordstrom Inc. (JWN) $41.20 -10.84%
Urban Outfitters Inc. (URBN) $21.61 -6.08%
Diamond Offshore Drilling Inc. (DO) $14.29 -Four.41%
Transocean Ltd. (RIG) $10.62 -Four.15%
Hanesbrands Inc. (HBI) $21.44 -Three.77%
Ralph Lauren Corp (RL) $76.40 -Three.57%
Mosaic Company (MOS) $22.91 -Three.33%
Quanta Services Inc. (PWR) $32.49 -Three.33%
Jacobs Engineering Group Inc. (JEC) $52.75 -Three.32%
Federal Realty Inv Trust (FRT) $125.43 -Three.31%

Nasdaq 100 - Risers

Wynn Resorts Ltd. (WYNN) $125.29 2.50%
Vodafone Group Plc ADS (VOD) $27.58 2.38%
Ctrip.Com International Ltd. Ads (CTRP) $55.33 2.18%
Broadcom Limited (AVGO) $235.96 2.11%, Inc. (JD) $40.56 2.01%
Check Point Software Technologies Ltd. (CHKP) $107.60 .78%
Amazon.Com Inc. (AMZN) $961.35 .45%
Netflix Inc. (NFLX) $160.81 .43%
Apple Inc. (AAPL) $156.10 .40%
Seagate Technology Plc (STX) $43.04 .32%

Nasdaq 100 - Fallers

Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $51.50 -2.74%
Ross Stores Inc. (ROST) $63.49 -2.67%
Hologic Inc. (HOLX) $42.63 -2.27%
Twenty-First Century Fox Inc Class A (FOXA) $27.94 -2.03%
NetEase Inc. Ads (NTES) $271.29 -.98%
Express Scripts Holding Co (ESRX) $59.63 -.70%
Dentsply International Inc. (XRAY) $61.65 -.67%
PACCAR Inc. (PCAR) $63.37 -.55%
American Airlines Group (AAL) $45.83 -.53%
Twenty-First Century Fox Inc Class B (FOX) $27.90 -.48%

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US shut: S&P 500 ends lower on weak CPI, fashion retailers drag - DIGITALLOOK