“`html
The S&P 500 Index is down by 0.18%, the Dow Jones by 0.25%, and the Nasdaq 100 by 0.16% as of today. Concerns about consumer spending were triggered by Walmart’s weaker-than-expected Q2 earnings per share (EPS). Additionally, the 10-year T-note yield rose by 3 basis points to 4.32%, following comments from Kansas City Fed President Jeffrey Schmid about inflation risks.
Weekly initial unemployment claims in the US increased by 11,000 to 235,000, marking a two-month high, while continuing claims rose by 30,000 to a 3.75-year high of 1.972 million. The August Philadelphia Fed business outlook fell by 16.2 points to -0.3, and the S&P manufacturing PMI unexpectedly rose to a three-year high of 53.3.
Geopolitically, US Vice President Vance indicated ongoing negotiations around Ukraine’s security and territorial claims amid a potential peace deal. Meanwhile, President Trump has expanded steel and aluminum tariffs, which could impact US imports and tariff rates expected to rise to 15.2% if implemented as discussed.
“`
