By Joe Wallace and Vicky Ge Huang

Walmart said it will raise prices in response to tariffs. The move stands to ripple through the retail industry and the U.S. economy, given Walmart's standing as one of the country's biggest, and most cost-competitive, retailers.

The company reported strong results Thursday. Its plans to raise prices this month and early this summer stand to pass along some of the costs it faces as tariffed merchandise hits store shelves.

Across the broader economy, new data showed retail sales grew just 0.1% in April, slowing from 1.7% a month earlier.

Meanwhile, President Trump turned his sights on India, which he called "one of the highest-tariff nations in the world." He claimed New Delhi had offered the U.S. a deal where "basically they're willing to literally charge us no tariffs," and scolded Apple's chief executive, Tim Cook, for expanding production in India.

Trump's comments on Iran - made at the same event in Qatar with business leaders - weighed on oil prices. The president indicated the U.S. was close to a deal in which Tehran dropped ambitions to have a nuclear weapon. Such an agreement could in theory lead to higher Iranian crude exports, which are under strict U.S. sanctions.

In recent trading:

U.S. indexes were modestly lower. The S&P 500 was on track to snap three days of gains after this week's trade détente with China.

Ten-year Treasury yields ticked down, after rising for five days through Wednesday.

U.S. oil futures fell 2% on the Trump Iran comments.

Write to Joe Wallace at joe.wallace@wsj.com and Vicky Ge Huang at vicky.huang@wsj.com

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

May 15, 2025 09:44 ET (13:44 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.