Wall Street's Rollercoaster: S&P Soars, Nasdaq Stumbles Amid Trade Hopes

Hold onto your hats, folks! The U.S. stock market was a wild ride on Thursday. The S&P 500 rocketed up 0.4%, marking its fourth straight day of gains, while the Dow Jones Industrial Average powered ahead by over 250 points. Talk about a thrill!

But wait, the Nasdaq Composite took a nosedive, dropping 0.2% and snapping its six-day winning streak. Ouch!

What's driving this market madness? Signs of thawing trade tensions between the U.S. and China had investors buzzing. Both countries agreed to ease up on tariffs, giving a much-needed breather to those worried about inflation and global growth. Phew!

Meanwhile, the 10-year Treasury yield took a tumble to 4.44% after April's Producer Price Index shocked everyone by dropping 0.5% month-over-month. Who saw that coming?

On the retail front, April's sales barely edged up by 0.1%, meeting expectations but falling way short of March's 1.7% blockbuster. Industrial production also took a tiny hit. Not exactly the blockbuster numbers we were hoping for!

Walmart to Jack Up Prices

Hold your wallets, shoppers! Walmart dropped a bombshell, announcing price hikes due to those pesky tariffs. This move signals ongoing pressure on retailers and consumers alike. The retail giant's stock dipped 0.5% after it played coy and withheld profit guidance for the current quarter. What's up with that?

Tech stocks, the recent darlings of the market, decided to take a breather. Meta Platforms took a 4% hit on rumors of a delayed AI rollout, while Nvidia and Tesla still managed to stay up around 15% for the week. Talk about resilience!

Investors were also chewing on some food for thought from Federal Reserve Chair Jerome Powell, who warned of wilder inflation ahead thanks to those pesky global supply shocks. Buckle up, folks!

Adding to the mix, President Trump hinted at possible trade deals with India and Iran, sending hopes soaring for more economic tailwinds. Could this be the boost we need?

In a jaw-dropping move, Foot Locker skyrocketed nearly 86% after announcing a massive $2.4 billion merger with Dick's Sporting Goods. Cha-ching! On the flip side, UnitedHealth took a brutal 11% hit following whispers of a DOJ probe, though the company claimed they hadn't been officially notified. Talk about a rollercoaster day on Wall Street!