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Wall Street slips as retail sales cool and AI stocks face valuation worries

The S&P 500 was down 0.3% and the 10-year Treasury yield rose to 4.58% from 4.55% as June retail sales growth slowed to 0.2%.

Reported · Written up by our desk · Indices

Wall Street fell in early trading as investors weighed softer retail sales data and concerns about stretched valuations in artificial intelligence-linked stocks, according to LiveMint Markets. As of 10 a.m. Eastern Time, the S&P 500 was down 0.3%, the Dow Jones Industrial Average was down less than 0.1%, and the Nasdaq Composite slid 0.9%.

The report highlighted that US retail sales rose 0.2% in June from the prior month, matching economists' forecasts but slowing from a revised 1.0% increase in May. Analysts said the moderation still pointed to resilient consumer demand, noting that lower gasoline prices likely reduced the overall value of retail sales.

In rates markets, the 10-year Treasury yield rose to 4.58% from 4.55% on Wednesday. On the stock side, UnitedHealth Group gained 7.8% after raising its profit forecast for 2026, while semiconductors extended losses, with Nvidia down 2.3% and TSMC down 2.5%.

Other notable moves included Western Digital and Seagate Technology down 7.3% each, Micron Technology down 4.8%, and United Airlines down 2.8% after crude oil prices rose and clouded its third-quarter outlook. GE Aerospace fell 4.4% even after increasing its 2026 profit guidance, as investors appeared to take profits despite the update, LiveMint Markets added.

Latest closeWTI crude $80.18 ▲1.1%|Gasoline (RBOB) $3.100 ▼3.9%|S&P 500 7,572.40 ▲0.4%

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