CNBC Business News Update Market Close: Stocks Mixed, Walmart Warned Higher Prices Are Coming, More People Applied For Unemployment Benefits Last Week 5/15/25
May 15, 2025
The stock market shows a mixed performance, leaving investors on edge. Walmart warns of impending price hikes that could impact consumers. Rising unemployment claims signal potential concerns for the economy. Retail sales appear weak, contributing to a dip in consumer sentiment. Housing market builders express declining confidence amid these economic shifts, raising questions about future trends.
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Walmart Warns of Tariff Price Hikes
- Walmart is warning of potential price increases due to high tariffs in the next two weeks.
- Their conservative management means if Walmart faces challenges, other retailers likely face even bigger ones.
Unemployment and Consumer Weakness
- More people applied for unemployment benefits, and continuing claims rose, indicating longer job searches.
- Retail sales grew only 0.1% in April, showing weak consumer spending and low confidence.
Housing Market Sentiment Sours
- Homebuilder sentiment dropped to a 3-year low amid interest rate, tariff, and material cost uncertainties.
- A significant number of builders are forced to cut home prices due to these economic pressures.