Major US retailers reported their earnings in recent weeks, including Target (TGT), Home Depot (HD), and Walmart (WMT), giving insight into how consumers are spending. The retail sector (XLRE) has been trading like investors aren't worried about a potential consumer spending pullback.

Stocks (^DJI,^GSPC, ^IXIC) shrugged off a Bureau of Labor Statistics report that showed 818,000 fewer jobs were created than initially reported for the 12 months through March 2024. In addition, AI stocks seem to be on the up and up again, with Nvidia (NVDA) recouping much of what it lost in the last few weeks.

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This post was written by Nicholas Jacobino