US Retail Sales showed no growth in April
For the week, the Dow Jones weakened -1.14%, the S&P 500 -1.39%, and the Nasdaq -2.34%
Wall Street’s three main indexes ended higher on Friday as dismal U.S. data cooled tightening expectations and put the U.S. dollar under selling pressure. U.S. Retail Sales showed no growth in April, while the preliminary estimate of the Michigan Consumer Sentiment Index resulted in 82.8 in May (88.3 was in April).
The report boosted demand for high-yielding assets and confirmed the U.S. Federal Reserve’s stance of maintaining an ultra-loose monetary policy for the upcoming period. Despite this, the Dow Jones, the S&P 500, and the Nasdaq weakened on a weekly basis as investors have started to behave nervously amid concerns about the rising inflation.