NEW YORK—Most stocks ticked higher on Wall Street Thursday following the latest signs that the U.S. economy remains stronger than feared. The S&P 500 rose 19.58 points, or 0.4 percent, to 4,396.44 and is on track for its sixth winning week in the last seven. The Dow Jones Industrial Average gained 269.76, or 0.8 percent,…
Stock Market Today: Stocks Rise and Bond Yields Jump After the Latest Signs of a Resilient Economy
Closing Prices for Crude Oil, Gold, and Other Commodities (June 29)
June 29, 2023
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Benchmark U.S. crude oil for August delivery rose 30 cents to $69.86 a barrel Thursday. Brent crude for August delivery rose 31 cents to $74.34 a barrel. Wholesale gasoline for July delivery rose 1 cent $2.62 a gallon. July heating oil rose 1 cent to $2.42 a gallon. August natural gas rose 3 cents to…
Banks Pass Fed Stress Test With Mixed Outlook for Higher Payouts
June 29, 2023
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The top U.S. banks all passed the Federal Reserve’s annual stress test, which is closely watched by the financial industry, which brought much relief to investors. The 23 financial institutions subject to the Fed’s annual bank stress test were expected to pass with little issue. The assessment was a major hurdle towards paying billions of dollars to…
How Major US Stock Indexes Fared June 29
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…
Feds Accuse 3 Investors of Insider Trading Linked to Trump Media SPAC Deal
The Justice Department has accused three Florida men of insider trading in Digital World Acquisition Corp (DWAC) based on confidential information obtained before the special purpose acquisition company publicly announced plans to merge with former President Donald Trump’s social media company. Michael Shvartsman, his brother Gerald Shvartsman, and Bruce Garelick made over $22 million in…
Nonsensical AI-Generated Books Appear as Amazon Best Sellers
Artificial intelligence-produced e-books made their way to Amazon’s Kindle store on Monday, in the best sellers category, where they remained for two days. After their removal from that category, they were still available for purchase on the website. The e-books had no meaning, as a “read inside” view made clear, Vice reported. They were probably…
Mining Industry Got Australia Through Economic Recessions, Pandemic: Liberal MP
Queensland Liberal MP Garth Hamilton has commended Australia’s mining sector for sustaining the nation’s economic prosperity during the 90s recession, the GFC, and more recently through the pandemic. This comes as federal Labor Treasurer Jim Chalmers said that Australia’s resources sector has been “a force for good.” Speaking with Sky News on June 26, Hamilton…
‘Unsustainable’ Health and Retirement Spending Will Hurt Government Finances: Tax Policy Center
June 29, 2023
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The Tax Policy Center has criticized the recently passed bipartisan debt deal for failing to cut down government spending in health care and Social Security programs, warning that the country’s finances could go haywire in the future without reforms in these categories. “This budget agreement failed to touch the major items of spending growth, health…
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…
Chipmaker Micron Beats on Demand From Booming AI, Easing Glut
June 29, 2023
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artificial intelligenceBusiness & MarketsChina Business & EconomyChina NewsCompaniesMarketsMedia & Big TechmicronresultsstocksTechTech NewsUSUS News
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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…
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