LIVE MARKETS-In wake of boatload of economic data, US stocks see early dip

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IN WAKE OF BOATLOAD OF ECONOMIC DATA, US STOCKS SEE EARLY DIP

Wall Street's main indexes are modestly lower early on Thursday as euphoria from the U.S.-China tariff truce wanes, while UnitedHealth's UNH.N stock is under pressure following a report that the DoJ was investigating the health insurer for fraud.

In terms of economic data, U.S. retail sales growth slowed in April, while a Labor Department report showed the producer price index for final demand fell 0.5% for the same month, compared to an expectation of a 0.2% rise.

On an annual basis, producer prices came in at 2.4% vs an estimate of 2.5%.

Initial jobless claims were 229k which was in-line with the 229k estimate, and roughly unchanged vs last week's 228k print.

Speaking on the day, U.S. Federal Reserve chair Jerome Powell said central bank officials felt they needed to reconsider the key elements around jobs as well as inflation in their current monetary policy approach.

A majority of S&P 500 .SPX sectors are lower with energy .SPNY and consumer discretionary .SPLRCD, both off more than 1%, taking the biggest hits. Crude futures CLc1 are lower on expectations for a U.S.-Iran nuclear deal.

Utilities .SPLRCU, up 1%, are rising the most.

Here is a snapshot of where markets stood just shortly after the open:

(Terence Gabriel)

THURSDAY'S EARLIER LIVE MARKETS POSTS:

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GOLDMAN: TARIFFS WON'T SPUR MAJOR US RESHORING CLICK HERE

WHY FRENCH DEBT DOESN’T WORRY MARKETS… FOR NOW CLICK HERE

ASIAN RETAIL INVESTORS FAVOURING DOMESTIC MARKETS OVER US CLICK HERE

DEFENCE A BRIGHT SPOT, ENERGY DRAGS CLICK HERE

BEFORE THE BELL: DATA, EARNINGS, POWELL UP NEXT CLICK HERE

AS EUPHORIA EBBS, POWELL ON DECK CLICK HERE