Wall Street stocks retreated on Friday following a positive session on European bourses.
A man looks at a screen displaying stock price movements at the Moscow Exchange office in Moscow.NEW YORK - Wall Street stocks retreated on Friday following a positive session on European bourses, as disappointing US retail sales data offset a lift from better-than-expected bank earnings.
But that downcast reading was countered by surprisingly good earnings from JPMorgan Chase and other large banks that cheered investors nervous about the sector.Analysts pointed to hawkish comments from Federal Reserve Governor Christopher Waller that prompted a rethink of US inflation reports this week. Easing inflation earlier raised hopes for a pause in interest rate hikes soon.
"While it is a Friday, and risk appetite is hard to sustain, today's losses after Thursday's gains show how delicate the rally in US equities is," he said.
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