Stock market today: Wall Street drifts to start what could be a quiet week

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 99%

Business News News

Stocks are drifting Monday in their first trading since a big rally for Wall Street hit its first roadblock in six weeks.

The S&P 500 was 0.2% higher in early trading. It's still close to its highest level in a year, reached a couple weeks ago. The Dow Jones Industrial Average was up 68 points, or 0.2%, at 33,795, as of 9:45 a.m. Eastern time, while the Nasdaq composite was 0.3% higher.

Adding to the uncertainty was a short-lived armed rebellion in Russia over the weekend. The war in Ukraine has already helped push upward on inflation around the world, but investors mostly looked past the brief mutiny by mercenary soldiers. More emphasis will be on June's inflation data, which will arrive a couple weeks before the Fed's next meeting running July 25-26. Also upcoming is the next monthly jobs report, which will arrive in two Fridays.

High rates undercut inflation by applying the brakes to the entire economy, and they raise the risk of a recession if they stay too high, too long.

 

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

 /  🏆 1. in BUSİNESS

Business Business Latest News, Business Business Headlines

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

Lofty valuations on U.S. stocks a growing worry for investorsSome Wall Street banks are sounding caution on the rally
Source: globeandmail - 🏆 5. / 92 Read more »

Stock market today: Global shares decline after armed rebellion quelled in RussiaGlobal shares mostly fell Monday after a short-lived armed rebellion in Russia added to uncertainties over the war in Ukraine.
Source: CP24 - 🏆 30. / 67 Read more »

Summer sizzler – will the stock market rally into mid-July?Two trading days before the end of June through to five days after U.S. Independence Day have produced strong returns over the long-term
Source: globeandmail - 🏆 5. / 92 Read more »