June retail sales matched estimates at +0.2%, but tech sector declines weighed on the Nasdaq, which fell 1.5%.
US retail sales rose 0.2% in June, in line with expectations, signaling steady consumer demand. Upward revisions to prior months added modest support, though broader market sentiment was dampened by tech sector weakness.
The Nasdaq Composite dropped 1.5%, led by declines in major tech names, including a 5.9% fall in Micron shares and a 12.6% drop in Sandisk. Reports of delays in Google’s Gemini launch further pressured the sector. Meanwhile, the S&P 500 saw more advancers than decliners, with banks outperforming.
US Treasury yields edged up 1.6 bps to 4.56%, while gold and crude oil prices retreated, down $83 to $3976 and 57 cents to $79.03, respectively. The USD strengthened, while the CHF lagged among major currencies.