Growth in the US market resumed after interest rates rolled back down

The American stock market ended the day mixed. The session started with losses, but the Dow Jones Industrial Average (+0.7%) and the S&P 500 (+0.4%) closed in positive territory. There is an opinion that after the rapid growth (the S&P 500 index added 6.3% in May), the market needs correction, but its signs are still weak.

The continued stability of the quotes itself became a catalyst for growth as the session progressed. Additional support was provided by a decrease in bond yields.

The yield on 10–year US government bonds fell by 7 bps to 4.46%, while 2–year yields fell by 8 bps to 3.97%. This trend was partly caused by the unexpectedly weak Producer price Index (PPI) report for April (-0.5% with a forecast of +0.3%).

The day was full of macroeconomic statistics, including reports for April on retail sales and industrial production, as well as on applications for unemployment benefits, the Philadelphia Federal Reserve Index, the Empire State Manufacturing Survey and the Developer Confidence Index (NAHB).

Collectively, the data turned out to be multidirectional relative to expectations. The Nasdaq Composite (-0.2%) lagged behind other indexes throughout the session due to pressure from individual megacorporation stocks. UnitedHealth was among the outsiders (UNH 274.35, -33.66, -10.9%) after the Wall Street Journal reported that the US Department of Justice was allegedly conducting a criminal investigation into the company‘s possible fraud with the Medicare program. UnitedHealth itself stated that they were not aware of the investigation.

Walmart (WMT 96.35, -0.48, -0.5%) was also in the spotlight after posting a higher-than-expected quarterly profit, but the forecast for fiscal year 2026 was perceived as cautious. The company warned that consumers may face price increases as early as the end of May and especially in June due to tariffs.

Our portfolio – index FTinvest 11 portfolio continued to retreat today, but managed to stay above 730. The overall decrease for the day was 0.44%, the index closed at 731.39.