U.S. stocks retreat following mixed economic data

U.S. equities declined on Thursday as investors adjusted their expectations for the stock market and interest rates in response to a series of economic data releases. The S&P 500 Index fell by 0.5% while the tech-focused Nasdaq-100 dropped by 0.7% after reaching a record high in the previous session. Additionally, the S&P 500 marked its ninth consecutive day with more declining constituents than advancing ones. On the economic data front, applications for US unemployment benefits reached a two-month peak last week, climbing by 17,000 to 242,000 for the week ended 7 December. Moreover, US wholesale inflation saw an unexpected rise in November, with the producer price index for final demand increasing by 0.4% from the prior month, marking the largest rise since June.

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