Investment Livestream: US Retail Sales Meet Expectations, but Tech Stocks Slide

CoinDesk reports that U.S. retail sales data matched expectations, but tech stocks were weak. Micron shares fell 5.9%, hitting a new low since May 26, while SanDisk dropped 12.6%. In the S&P 500, the number of stocks rising outnumbered those falling, and bank stocks performed strongly. Google came under pressure after a report, with its latest Gemini model being viewed as disappointing. Selling accelerated in the afternoon, followed by a rebound in the final 30 minutes of trading. After Netflix released its earnings, its share price swung unpredictably.

The retail sales report was broadly in line with expectations; prior data was slightly revised upward, and United Airlines’ comments were also positive, especially regarding affluent consumers. The U.S. dollar generally strengthened again—USD/JPY rose once more, and CPI data showed mild easing. The Federal Reserve’s remarks kept a hawkish tone, with no clear signals. Gold prices were pressured: after breaking above $4,000, selling accelerated, and gold bulls now need the war to end and the dollar to weaken. There are currently vague reports that Iranian infrastructure was attacked, including a bridge in Bandar Khamir.