The session results showed that the Dow Jones Industrial Average and the Nasdaq advanced by 0.24%, while the broader S&P500 increased by 0.38%.
There remains “uncertainty regarding trade relations and the increase in tariff rates,” summarized analysts from Briefing.com.
Trump announced on Wednesday night his intention to send letters within two weeks to some governments, setting out his terms for reaching an agreement.
These comments “triggered some selling” on the stock market, noted Jack Albin of Cresset.
The Producer Price Index rose by 0.1% in May, after a 0.2% decline in April, reported the Department of Labor.
Analysts had expected a stronger increase of 0.2%, according to a MarketWatch survey.
This index “indicates that price pressures due to tariff increases are less intense than what business surveys suggest,” pointed out Bill Adams of Comerica Bank.
According to Ryan Sweet of Oxford Economics, the coming months should not be as “moderate,” especially since companies will deplete stocks built up before the tariff hikes take effect.
“There are signs of a real weakening of the (U.S.) economy,” emphasized Adam Button of ForexLive.
“Unemployment claims (released on Thursday) are at their highest since October,” he explained.
