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.
Major averages advanced but gains were muted after overall inflation in May eased to a two-year low but core inflation stayed above 5% for the eighteenth month in a row.
Stocks advanced ahead of the inflation report on Tuesday. Crude oil extended its decline for the third day in a row. Treasury yields were in focus but showed little movement.
Stocks extended previous week's gains and energy prices declined for the third day in a row. The Federal Reserve, the European Central Bank and the Bank of Japan are scheduled to announce their rate decisions this week.
Benchmark indexes braved higher and Treasury yields hovered near 2-month highs as investors debated rate path and rate levels. Crude oil dropped 3% on a possible uranium deal with Iran.
Major averages rested and stocks outside the energy sectors traded lower. Initial claims of jobless benefits rose for the third week in a row. The yield spread between 2-year and 10-year Treasury notes widened.
Major averages faced the wall of reality as the narrow stock market rally lost steam ahead of rate decisions from the Federal Reserve and the European Central Bank next week.
Benchmark indexes flirted at new highs in the year and investors looked ahead to rate decisions next week. International goods and service trade deficit widened in April in the U.S. and the trade surplus shrank in China in May.
