US Stocks Stable After Retail Sales Report Shows Decelerating Inflation

U.S. stocks were relatively stable on Friday following a report on retail sales that showed shoppers spent less at retailers last month than the previous month.

The S&P 500 rose by 0.1%, coming off its all-time high set the day before, while the Dow Jones Industrial Average was down 27 points, or 0.1%, and the Nasdaq composite was 0.1% higher.

Treasury yields held relatively steady in the bond market after the report showed a pullback in spending, which could take pressure off inflation.

Economists had forecasted another month of growth, but this data suggests the pace of increases in prices is decelerating. This could encourage the Federal Reserve to hold off on hikes to interest rates, as higher rates help keep a lid on inflation but slow the economy and make borrowing more expensive.