Wall Street ticked mostly higher as investors consider both the upsides and downsides of the U.S. economy remaining stronger than feared. The S&P 500 rose 0.4 percent Thursday after wobbling between small gains and losses. The Dow added 0.8 percent and the Nasdaq ended just barely lower, less than 0.1 percent. Yields jumped after data…
Chipmaker Micron Beats on Demand From Booming AI, Easing Glut
June 29, 2023
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Micron Technology beat estimates for third-quarter results on Wednesday, powered by demand for its memory chips from the rapidly-growing artificial intelligence sector and an easing supply glut in its traditional PC and smartphone markets. Shares of the company rose more than 2 percent in trading after the bell. They have gained 34 percent this year…
Chipmaker Micron Beats Demand Estimates
June 29, 2023
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Micron Technology beat estimates for third-quarter results on Wednesday, powered by demand for its memory chips from the rapidly-growing artificial intelligence sector and an easing supply glut in its traditional PC and smartphone markets. Shares of the company rose more than 2 percent in trading after the bell. They have gained 34 percent this year…
Wall Street Rises as Banks Gain, Economic Data Eases Recession Fears
Wall Street opened higher on Thursday, as bank stocks rose after major lenders cleared the Federal Reserve’s annual stress test, while economic data pointed to a resilient U.S. economy in the face of aggressive interest rate hikes. The Dow Jones Industrial Average rose 1.91 points, or 0.01 percent, at the open to 33,854.57. The S&P…
Lordstown Motors Sues Foxconn and Files for Bankruptcy
June 29, 2023
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The troubled electric vehicle maker Lordstown Motors has followed through with its promise to sue Foxconn over a promised investment and filed for bankruptcy. On June 27, the EV maker filed a legal action against Foxconn, the Taiwanese manufacturer of Apple’s iPhones, while simultaneously filing for Chapter 11 protection in Delaware and put itself up for sale. The…
Dollar Holds Near 7-month High Versus Yen on Policy Split; Swedish Crown Record Low
LONDON—The U.S. dollar touched a more than seven-month high against the Japanese yen on Thursday after their respective central banks reaffirmed divergent policy plans, while Sweden’s crown hit a record low after the Riksbank modestly raised its policy rate. Federal Reserve Chair Jerome Powell—speaking on a panel with Bank of Japan Governor Kazuo Ueda on…
Oil Steadies After Spiking on US Inventory Fall
LONDON—Oil prices steadied on Thursday, a day after rising sharply on a bigger-than-expected fall in U.S. inventories, as attention shifted back to rising interest rates denting global economic growth. Brent crude futures was up 10 cents, or 0.1 percent, to $74.13 a barrel by 1032 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 11…
Stocks Shrug Off Inflation Angst, Yen Bows to Dollar
June 29, 2023
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LONDON—World shares and the dollar inched higher and gold was at a three-month low on Thursday as traders’ attention continued to swing between the battle to lower inflation and speculation about currency market intervention in China and Japan. Europe’s regional STOXX 600 index barely budged in early trading after what had been its biggest rise…
Stock Market Today: Wall Street Drifts Through a Quiet Day to Finish Mixed
NEW YORK—Stocks were mixed on Wall Street Wednesday, as indexes drifted between small gains and losses through a quiet day of trading. The S&P 500 edged down by 1.55, or less than 0.1%, to 4,376.86. The Dow Jones Industrial Average slipped 74.08 points, or 0.2%, to 33,852.66, while the Nasdaq composite rose 36.08, or 0.3%,…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 28)
June 28, 2023
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Benchmark U.S. crude oil for August delivery rose $1.86 to $69.56 a barrel Wednesday. Brent crude for August delivery rose $1.77 to $74.03 a barrel. Wholesale gasoline for July delivery rose 8 cents $2.60 a gallon. July heating oil rose 1 cent to $2.41 a gallon. July natural gas fell 16 cents to $2.60 per…
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