Wall Street retreats from records on unemployment, inflation news

Wall Street retreated from its records on Thursday following dual reports showing cooling inflation and climbing unemployment.

• S&P 500 Futures : 5,828.50 ⬇️ down 0.22%
• S&P 500 : 5,780.05 ⬇️ down 0.21%
• Nasdaq Composite : 18,282.05 ⬇️ down 0.052%
• Dow Jones Industrial Average : 42,454.12 ⬇️ down 0.14%
• STOXX Europe 600: 519.11 ⬇️ down 0.18%
• FTSE 100 : 8,237.73 ⬇️ down 0.073%
• SSE Composite : 3,301.93 ⬆️ up 1.32%
• Nikkei 225 : 39,380.89 ⬆️ up 0.26%
• Bitcoin: $63,126.50 ⬇️ down 0.48%

U.S.: Stocks slide as eager investors scale back hopes of jumbo Fed rate cuts
After setting a new all-time high, The Dow Jones Industrial Average fell Thursday 0.14% alongside the S&P 500, which was down 0.21% at the end of trading. The Nasdaq composite was nearly unchanged, moving just 0.052% by the end of the day Thursday. Cooling markets follow a surprise increase in filings for unemployment in the wake of two hurricanes and the Boeing strike.

Europe: Shares waver ahead of U.S. CPI as GSK soars on court settlement
European stocks slid slightly on U.S inflation data. The U.K.’s FTSE 100 was down a marginal 0.0073% at close, saved from steeper losses as GSK surged nearly 7% on news that the pharma giant had reached a $2.2 billion deal to settle thousands of claims in U.S. courts that linked cancer cases to its heartburn drug Zantac. Meanwhile, the STOXX Europe 600 was down 0.18%.

China: Shanghai and Hong Kong markets rebound on renewed stimulus hopes
Following a sharp decline in mainland China stocks, Shanghai’s SSE Composite gained 1.32%, and Hong Kong’s Hang Seng Index surged by 2.98%, driven by renewed optimism about economic stimulus. The rebound came after Beijing announced that the finance minister would hold another stimulus briefing on Saturday, sparking expectations of further measures to support the economy.

Japan: Nikkei edges up as producer prices surpass expectations
The Nikkei 225 saw a modest 0.26% increase, led by the financial sector, as traders awaited key U.S. economic data. However, gains were limited by a higher-than-expected 2.8% rise in Japan's producer prices, exceeding the 2.3% forecast by economists, which tempered market sentiment.

And earnings season continues…

JPMorgan, Wells Fargo , and BlackRock on Friday.

This story was originally featured on Fortune.com