All three major indexes of the New York stock market opened lower. It is analyzed that profit-taking sales emerged following the recent rally stemming from the tariff suspension agreement between the Trump administration and China.
As of 10:30 a.m. on the 15th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average fell 136.13 points (0.32%) to 41,914.09, the S&P 500 index dropped 19.68 points (0.33%) to 5,872.90, and the Nasdaq index was trading down 147.42 points (0.77%) at 18,997.56.
The economic indicators showed a mixed trend that day. The U.S. Department of Commerce reported that retail sales in April increased by 0.1% from the previous month, recording $72.41 billion, slightly exceeding market expectations.
In contrast, the Producer Price Index (PPI) for April fell by 0.5% from the previous month, showing the lowest level in five years and falling short of market expectations. This is interpreted as a result of tariff impacts.
For the week of May 4th to May 10th, the number of initial unemployment claims maintained the same level as the previous week. This aligns with market expectations.
By sector, a mixed pattern is being observed. Utilities continue a rise of around 1%, while consumer discretionary and energy sectors show a decline of around 1.4%. Individually, Walmart announced better-than-expected first-quarter results, but the stock dropped 4% as management warned of price increases due to high tariffs.
UnitedHealth Group, the largest health insurer in the U.S., is experiencing a sharp decline of around 17%. The news of former CEO Andrew Witty's resignation and the report that the company is under investigation by U.S. authorities for Medicare fraud has shaken investor sentiment significantly.
International oil prices continue to decline for the second consecutive day. As of 9:42 a.m. that day, the price of West Texas Intermediate (WTI) for June delivery fell by 2.47% to $61.59 per barrel, while the price of Brent crude for July delivery decreased by 2.42% to $64.49 per barrel.