US stocks open in the red: S&P down 0.5%, Nasdaq slips around 1%

Market Overview - US stocks declined for the second consecutive session, with the S&P 500 down 0.5%, the Dow Jones Industrial Average slipping 51 points (0.1%), and the Nasdaq Composite falling 0.96% as investors reacted to mixed corporate earnings and delayed economic data [1][2]. Corporate Earnings - Financial stocks were a significant drag on the market, with major banks like Wells Fargo and Bank of America reporting disappointing earnings, leading to declines of over 4% and 3% respectively [3][4]. - The overall performance of financials was the worst among sectors, indicating investor unease as earnings season progresses [4]. Economic Data - Despite the stock market decline, economic data indicated a resilient US consumer and persistent inflation pressures. The producer price index rose 0.2% month-over-month in November, up from 0.1% in October, and year-over-year producer inflation increased to 3.0% from 2.8% [5][6]. - Retail sales rebounded strongly in November, rising 0.6% to $735.9 billion, surpassing expectations of a 0.4% increase and following a downwardly revised 0.1% decline in October [7][8]. Political Environment - Concerns regarding the independence of the Federal Reserve persisted, with President Trump publicly criticizing Fed Chair Jerome Powell, which raised investor unease amid a criminal investigation into Powell by the Justice Department [9][10]. - This political pressure adds uncertainty to the market, especially as the Fed is expected to pause further interest-rate cuts after previous policy easing [10].