The stock market is experiencing declines as President Trump criticizes China for violating the trade agreement. This has caused the major indices to open lower. However, there are positive signs in the economy with inflation slowing and consumer spending slightly rising. In April, consumer prices increased by only 0.1%, helping to edge closer to the Fed's target of 2% inflation. Despite an economic slowdown, Ulta Beauty's stock surged 14.5% as consumer spending in beauty products remains robust, indicating continued consumer confidence.
Despite signs of an economic slowdown, consumers are sticking to their beauty regimens. Ulta Beauty lifted its full-year guidance as consumers continue to buy its products, sending the stock soaring by 14.5% today.
The U.S. and China trade deal appears to have unraveled. All three of the major stock market averages opened lower after President Trump called out China for violating the trade deal.
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