Stocks Muted as Retailers Face High Inflation Pressure

US stocks are experiencing a mixed week, with the S&P 500 slipping 0.1% and remaining near its all-time high set Thursday.

The Dow Jones Industrial Average dropped 163 points, or 0.3%, as of 10:30 a.m. Eastern time, while the Nasdaq composite was virtually unchanged.

Despite this, profits are booming for big US companies, with those in the S&P 500 index on track to deliver growth of roughly 50% for earnings per share in the spring from a year earlier, according to FactSet.

This comes as retailers face pressure due to high inflation and a slowing job market. Big retailers such as Home Depot, Target, and Walmart are set to release their profit reports this week, which could provide insight into how shoppers are adapting.