The S&P 500 and Nasdaq reached their highest closes in 14 months on Tuesday after data showed consumer prices rose modestly in May, boosting bets that the Federal Reserve will not raise interest rates on Wednesday. Nvidia jumped 3.9 percent, becoming the first chipmaker to end a trading session with a market capitalization above $1…
US Stocks End Higher as Inflation Data Cements Bets on Rate Hike Pause
How Major US Stock Indexes Fared June 13
Stocks climbed after a cooler reading on inflation bolstered Wall Street’s expectations that the Federal Reserve will hold off on another interest rate hike this week. The S&P 500 rose 0.7 percent Tuesday, touching heights unseen since April 2022. The Dow Jones Industrial Average gained 145 points, while the Nasdaq composite rose 0.8 percent. Stocks…
Dollar Sags Before Inflation Data, Yuan Weakens on Rate Cut
LONDON/SINGAPORE—The dollar fell slightly on Tuesday as investors awaited U.S. inflation data, while China’s yuan slipped to a six-month low after the central bank lowered a short-term lending rate to boost the economy. The euro was up 0.42 percent to $1.08 on Tuesday, after touching its highest since May 23 earlier in the session at…
Shares Get a Boost From Tech; Dollar Dithers Ahead of Inflation Data
June 13, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsMedia & Big Techrecessionstocks
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LONDON—Global shares rose on Tuesday, taking their lead from an upbeat session on Wall Street ahead of key U.S. inflation data that could shape the outlook for Federal Reserve monetary policy. Consumer inflation on Tuesday and wholesale data on Wednesday could offer investors evidence of how successful the Fed has been in taming price pressures,…
Stock Market Today: Wall Street Rises, and S&P 500 Hits Highest Level in More Than a Year
NEW YORK—Wall Street climbed Monday ahead of a big week for central banks around the world, vaulting the S&P 500 to its highest level in more than a year. The benchmark index rose 40.07 points, or 0.9 percent, to 4,338.93 and its highest close since April 2022. The Dow Jones Industrial Average gained 189.55, or…
How Major US Stock Indexes Fared June 12
Wall Street closed higher ahead of a big week for central banks, carrying the S&P 500 to its highest level in more than a year. The benchmark index rose 0.9 percent Monday. The Dow added 189 points, while the Nasdaq rose 1.5 percent. Stocks have been cruising on hopes the economy may avoid a recession…
Stocks Discount Too Much Easing and Optimism
Commentary The S&P 500 Index has risen to a new high, and close to its record level. Complacency seems to be taking hold of market participants because the latest leg up has been driven entirely by multiple expansion. According to Bloomberg, the price-to-earnings (P/E) ratio of the S&P 500 has erupted back to 19.2 times,…
UBS Completes Takeover of Credit Suisse in Deal Meant to Stem Global Financial Turmoil
June 12, 2023
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Business & MarketsCompaniesCredit Suisseeconomic policieseconomyEuropeMarketsstocksSwitzerlandUBSWorld
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BERLIN—UBS said Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country’s two largest banks in a bid to safeguard Switzerland’s reputation as a global financial center and choke off market turmoil. A statement from the bank…
Wall Street Opens Higher as Investors Eye Inflation Data, Fed Verdict
U.S. stock indexes rose on Monday, with the benchmark S&P 500 and the tech-heavy Nasdaq hovering near 2023 highs as investors awaited inflation data and the Federal Reserve’s interest rate decision this week. The Dow Jones Industrial Average rose 30.02 points, or 0.09 percent, at the open to 33,906.80. The S&P 500 opened higher by…
Dollar Slips as Fed Pause Eyed in Busy Central Bank Week
LONDON—The dollar edged lower on Monday as traders stayed on guard ahead of policy decisions this week from several central banks, including the Federal Reserve, who are expected to keep interest rates on hold for the first time since January 2022. Monetary policy meetings of the Fed, the European Central Bank (ECB) and the Bank…
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