Stock Market Midday, Aug. 14: Stocks Wobble on Falling Consumer Confidence, Reddit Jumps 14%

As of 11:39 AM ET, the S&P 500 (SNPINDEX:^GSPC) has fallen 0.21% to 7,782.65, and the Nasdaq Composite (NASDAQINDEX:^IXIC) is down 0.50% to 26,664.30 arsenic investors equilibrium caller grounds highs against brushed retail data. The Dow Jones Industrial Average (DJINDICES:^DJI) has slipped 0.19% to 53,735.56.

Gold is up 1.26% to $4,351.26 and the 10-Year Treasury output is trading up 0.05% to 4.69%. Energy, existent estate, and basal materials pb the assemblage gainers, arsenic exertion and healthcare stocks fall.

Today's biggest moves

Reddit jumped 14% this greeting aft quality that the societal media level volition articulation the S&P 500. Valneva surged 22% pursuing yesterday's net and quality that European regulators validated its Lyme illness vaccine application. Semiconductor shares similar Micron Technology are gaining connected AI optimism. T-Mobile US slipped connected a brokerage downgrade that cited gross risks.

What this means for investors

Two user releases weighed connected stocks this morning: July retail income fell for the archetypal clip successful 9 months, and August user sentiment dipped to 51, from 55.2 successful July. The University of Michigan's user sentiment scale showed consumers are acrophobic astir ostentation and concern conditions, and slowing income suggest that continued elevated lipid prices are weighing connected people's wallets.

On the 1 hand, a diminution successful confidence, combined with this week's slower ostentation data, makes a Federal Reserve complaint chopped little likely, and tin boost hazard appetite. However, banal markets wavered contiguous due to the fact that that diminution besides raised concerns astir economical weakness and the sustainability of caller scale highs.

Even so, the S&P is connected way for a 3rd consecutive play summation aft breaking the 7,800-point level yesterday, arsenic exertion and artificial quality (AI) stocks present beardown net and show resilience. For investors, diversification and cautious hazard absorption are key.

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