Stocks rested on the first day of a new week following 2% worldwide selloff in the previous week. Crude oil and natural gas prices remained volatile after Russia put down mutiny by a mercenary group.
European markets held up despite the Russian political turmoil over the weekend but natural gas prices shot up 10%. Spain's wholesale price index declined for the third month in a row and Germany's business confidence index dropped to a six-month low.
Major averages on Wall Street extended weekly losses on the ongoing worries that the Federal Reserve may keep higher rates longer and may be forced to dip into a recession to cool inflation.
Stocks turned around after falling for three days in a row and tech stocks led gainers. Crude oil dropped 3% and fell to a new 18-month low. European markets dropped after central banks continued aggressive rate hike campaigns.
Rate path worries gained momentum and major averages declined for the fourth day in a row as Fed Chairman Powell reiterated log fight ahead to tame stubborn inflation.
Stocks struggled to shake off valuation worries for the second day in a row after market rally powered by a surge in tech stocks over the last eight weeks.
Stocks trended lower after rate path worries resurfaced following the Fed Chairman Powell comments on inflation. Treasury yields edged higher. Crude oil continued its month-long slide.
Stocks struggled in early trading and Treasury yields traded mixed following the advance in the previous week. Major averages are expected to face headwinds after rallying for two months on rate path optimism AI powered tech stocks surge.
Major averages are set to close higher on the final day of the week after inflation measures cooled and the Federal Reserve paused its rate hike campaign.
Market indexes rallied for the sixth day in a row on the optimism that the Federal Reserve is largely done with rate hikes. Unexpected jump in retail sales and stable jobless claims also supported the advance.
Stocks overcame morning weakness as more investors bet that the Federal Reserve is likely to hold rates at the next meeting in July. Tech stocks advanced and energy stocks rebounded.
The Federal Reserve held rates as widely anticipated but suggested more rate hikes may be needed later to cool the economy enough to bring down inflation to 2%.
Stocks retained upward bias after wholesale inflation cooled more than expected. Investors awaited the rate decision and Fed's comments on the state of the U.S. economy later today.
