Stock market falls after mixed data on the economy

Market Overview - The U.S. stock market is experiencing a decline, with the S&P 500 down 0.4% and the Dow Jones Industrial Average down 271 points or 0.6% as of 1:53 p.m. Eastern time, while the Nasdaq composite remains mostly unchanged [1] - Treasury yields have eased slightly after an initial drop, with the 10-year Treasury yield falling to 4.16% from 4.18% and the two-year Treasury yield easing to 3.48% from 3.51% [6] Economic Data - Recent mixed economic data has created uncertainty regarding future interest rate movements, with the U.S. unemployment rate reported at its worst level since 2021, but job additions exceeding economists' expectations [2][3] - A report indicated that revenue growth for U.S. retailers in October was stronger than anticipated, suggesting underlying economic strength [2] Inflation and Price Pressures - A report released indicated that average selling prices for businesses are rising sharply, with one of the fastest rates since mid-2022, while overall business activity growth has slowed to its weakest level since June [5] - Higher prices are being attributed to tariffs, affecting both manufacturing and services sectors, leading to broader affordability issues [6] Company-Specific Developments - Oracle's stock rose 2.4% and Broadcom's by 0.1%, despite previous sharp losses, as both companies reported stronger-than-expected quarterly profits [7] - CoreWeave, which provides access to AI chips, saw a decline of 4.9%, raising questions about the profitability of current AI technology investments [8] - Pfizer's stock fell 5.2% after providing a profit forecast for 2026 that was below analysts' expectations, although its revenue forecast for next year aligns closely with expectations [8] - Kraft Heinz's stock fell 0.1% following the announcement of Steve Cahillane as the new CEO, effective January 1, as the company prepares to split into two entities by the second half of 2026 [9] Global Market Trends - Stock markets in Europe and Asia experienced declines, with Japan's Nikkei 225 dropping 1.6% ahead of an anticipated interest rate hike by the Bank of Japan [10] - South Korea's Kospi fell 2.2%, while indexes in Hong Kong and Shanghai dropped by 1.5% and 1.1%, respectively [10]