Wall Street slips as retail sales growth cools, AI stock valuation concerns weigh on markets

Wall Street's major indices slipped on Thursday as softer US retail sales growth and stretched AI-linked stock valuations weighed on sentiment. The Dow Jones rose 0.2% to 52,751.45, while the S&P 500 fell 0.4% to 7,543.96 and the Nasdaq Composite dropped 0.8% to 26,051.43. US retail sales rose 0.2% in June, matching forecasts but slowing sharply from May's revised 1.0% increase, though analysts noted resilient underlying consumer demand aided by lower gasoline prices.