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.
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.
