A person stops to look at an electronic stock board showing Japan’s Nikkei index at a securities firm Friday, July 12, 2024, in Tokyo. A person looks at an electronic stock board showing Japan’s Nikkei index at a securities firm Friday, July 12, 2024, in Tokyo. People walk in front of an electronic stock board showing Japan’s Nikkei index at a securities firm Friday, July 12, 2024, in Tokyo.
The direction was decidedly upward for the majority of stocks on Wall Street, particularly housing-related companies, real-estate owners and others that benefit from easier interest rates. SBA Communications, which owns towers and other sites used for wireless communications infrastructure, jumped 7.5% for the biggest gain in the S&P 500.
Wall Street wants lower interest rates to release pressure that’s built up on the economy because of how expensive it’s become to borrow money toWall Street saw Thursday’s report, which showed milder price increases than expected from a year earlier for gasoline, cars and other things U.S. consumers bought during June, as providing just that.
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