Dollar, Stocks Slip as Treasuries Rise Amid Data: Markets Wrap
- Bonds extend gains as European equities struggle for traction
- Dollar slips after retail sales fall short of estimates
OPEC Risks Lower for Longer
The dollar fell while Treasuries rallied after tepid data on retail sales and inflation in the U.S. economy rekindled concern that growth won’t accelerate to levels economists project. U.S. stocks ended the day mixed, gold erased a weekly loss, and crude stayed below $48 a barrel.
The S&P 500 Index fell as Nordstrom Inc. became the latest retailer to miss earnings estimates. Small caps retreated 1 percent in the week, while technology shares edged higher. The dollar pared a weekly gain, while 10-year Treasury yields fell to 2.32 percent after retail sales in April rose less than forecast and inflation slowed. The Bloomberg Commodity Index rose for a third day, recovering from a 16-month low. European stocks struggled for direction following the biggest drop in three weeks Thursday.