US Stocks Hold Gains from Week
US stocks were mostly higher on Friday, holding their gains from the prior three sessions as markets assessed the impact that tariffs may have on prices, growth, and corporate returns ahead of President Trump's summit with Russian President Putin. The S&P 500 and the Nasdaq 100 traded small gains and blows to remain near records this week, while a surge in UNH drove the Dow to gain 150 points for its first fresh high since November last year.
Headline and control group retail sales were both 0.5% higher in July, the latter beating expectations, to inject fresh confidence on the US consumer's strength following low aggregates in the first half of the year. Still, import prices, which do not include the tariff rate, unexpectedly surged. UnitedHealth was over 10% higher, enjoying some respite from its selloffs this year after Berkshire Hathaway disclosed a large stock purchase in the group. On the other hand, Applied Materials sank 13% after disclosing their second-quarter results.
Source: Trading Economics
