News Formal

Stock market today: Wall Street hits records as a slowing economy boosts hopes for lower rates

  • 📰 latimes
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 82%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Wall Street's record-breaking rally kept going after weak reports on the economy kept the door open for possible cuts to interest rates.

Wall Street’s record-breaking rally kept going Wednesday after weak reports on the U.S. economy kept the door open for possible cuts to interest rates. The S&P 500 rose 0.5% to set an all-time high for a second straight day and for the 33rd time this year. The Dow Jones Industrial Average slipped 23 points, or 0.1%, while the Nasdaq composite added 0.9% to its record set the day before. Trading ended early for the day ahead of the Fourth of July holiday.

The yield on the 10-year Treasury dropped to 4.35% from 4.44% late Tuesday, a notable move for the bond market, and much of the slide came after the report on U.S. services businesses. It’s been generally sinking since April on hopes that inflation is slowing enough to get the Federal Reserve to lower its main interest rate from the highest level in more than two decades. Wednesday's move erased some of a recent recovery for yields.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Trader Answers Stock Market Questions From TwitterFormer Wall Street stock trader Lance Breitstein answers your most asked stock market questions from Twitter.
Source: WIRED - 🏆 555. / 51 Read more »

Stock market today: Most of Wall Street rises, but Nvidia tumbles again as AI mania coolsAnother slide for Wall Street heavyweight Nvidia kept U.S. indexes mixed, even as the majority of stocks rallied.
Source: latimes - 🏆 11. / 82 Read more »

Stock market today: Asian shares lower after Wall Street closes another winning weekAsian shares are mostly lower after U.S. stocks coasted to the close of their latest winning week on Friday, even as Nvidia’s stock cooled further from its startling, supernova run.
Source: wjxt4 - 🏆 246. / 63 Read more »

Stock market today: Asian shares lower after Wall Street closes another winning weekAsian shares are mostly lower after U.S. stocks coasted to the close of their latest winning week on Friday, even as Nvidia’s stock cooled further from its startling, supernova run.
Source: ksatnews - 🏆 442. / 53 Read more »