US Stocks Retreat Despite Weekly Records for S&P 500, Nasdaq
Major US stock indices declined during afternoon trading on Friday, despite two major benchmark indexes poised for weekly gains.
Major Indexes Performance:
* S&P 500 (^GSPC): -0.5%
* Nasdaq Composite (^IXIC): -0.7%
* Dow Jones Industrial Average (^DJI): -0.8%
Key Movers:
* UnitedHealth (UNH) shares tumbled 8% after reports of a Department of Justice probe into its Medicare billing practices.
* Celsius Holdings (CELH) surged over 30% following its announcement to acquire Alani Nutrition for $1.8 billion.
Weekly Outlook:
* The benchmark S&P 500 and Nasdaq are on track for weekly wins, while the Dow faces a potential loss.
Market Sentiment and Tariffs:
* Consumer sentiment declined amidst concerns over tariff-induced price hikes, with the University of Michigan's index falling to 64.7 in February.
* Consumers expect inflation to rise, with the year-ahead inflation outlook jumping to 4.3%, the highest since November 2023.
* President Trump's tariffs continue to fuel uncertainty for retailers and consumers, with Walmart citing tariff concerns as a factor in its 2025 outlook.