Stock market today (May 22, 2024): Wall Street drifts higher to set more records

NEW YORK — U.S. stock indexes drifted higher Tuesday to set more records following another quiet day of trading.

That helped offset a 3.7% drop for Palo Alto Networks. The cybersecurity company delivered a better profit report than expected, but it gave a forecasted range for revenue in the current quarter whose midpoint was a hair below analysts’ expectations. Rates for mortgages, credit cards and other payments have become more expensive because the Federal Reserve has been keeping its main interest rate at the highest level in more than two decades. It’s trying to pull off a tightrope walk where it grinds down on the economy just enough through high interest rates to snuff out high inflation but not so much that it causes a painful recession.

United States United States Latest News, United States United States Headlines

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

Stock market today (May 13, 2024): Asian stocks drift after Wall Street closes another winning weekHONG KONG — Asian stocks were mostly lower on Monday after Wall Street coasted to the close of another winning week. U.S. futures were mixed and oil prices fell. The release of weak Chinese lending data and news that the U.S.
Source: BusinessMirror - 🏆 19. / 59 Read more »

DoT, TPB lead PH delegation to Arabian Travel Market and Seoul International Travel FairTHE Department of Tourism (DoT) is poised to banner the country's best tourism offerings in the Arabian Travel Market (ATM) 2024 at the Dubai World Trade Center in Dubai, United Arab Emirates (UAE) on May 6–9, 2024, and the Seoul International Travel Fair 2024 at the COEX Convention and Exhibition Center in Seoul, South Korea, on May 8–10, 2024.
Source: TheManilaTimes - 🏆 2. / 92 Read more »