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Stock market today: S&P 500, Nasdaq hover near record highs after retail sales miss

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Nasdaq Composite,Record Highs,Myles Udland

Techs are continuing to lead an AI-driven rally that investors simply can't afford to miss out on.

US stocks held near record highs, largely hitting pause in muted early trading amid the release of the week's economic data highlight: May's retail sales numbers. The benchmark S&P 500 hovered around the flatline after the benchmark index secured its 30th record close of 2024. The Dow Jones Industrial Average similarly meandered around the flatline, while the Nasdaq Composite dropped about 0.2% by mid-morning trading.

" That enthusiasm could be put to the test — or at least put on a back burner — as a look into the health of the US consumer takes the spotlight. Government data on Tuesday showed that retail sales increased just 0.1%, missing economist expectations, Yahoo Finance's Josh Schafer reported. Meanwhile, April's numbers were revised to show a decline. It could be a sign of more consumer strain amid high interest rates and persistently stubborn inflation.

 

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