World shares mostly fall and US futures are mixed after US inflation data improves

U.S. stocks hovered near record levels Friday after new inflation-related data came in weaker than expected, this time tied to how much shoppers spent at retailers. The S&P 500 slipped 0.2% from its all-time high set the prior day. The Dow Jones Industrial Average fell 111 points, or 0.2%, while the Nasdaq Composite was down 0.4% as of 12:46 p.m. Eastern. Earlier gains faded after oil prices rose; Brent crude climbed 1.1% to $88 amid uncertainty about when the Iran war would allow oil tankers to exit the Persian Gulf freely. The spending report surprised economists, who had expected further growth. Markets also weighed a University of Michigan preliminary survey showing consumer sentiment weakening more than projected, especially among older and lower-income groups. Separately, Reddit jumped 11.7% after confirming it will join the S&P 500 on Tuesday.