Stock Market News Today: Dow, Nasdaq Rise; Tesla Stock in Focus - The Wall Street Journal

U.S. stock indexes closed higher Friday, lifted by tech shares, as blue-chip earnings and fresh inflation data rolled in.

The Federal Reserve’s preferred gauge of consumer inflation, the PCE price index, showed prices rising 3% in June from a year ago. That was a cooldown from the 3.8% increase in May.

As of Friday's close:

U.S. stock indexes rose. The Nasdaq Composite added nearly 2%. The S&P 500 and Dow industrials also rose; all three ended the week with gains. The Dow on Thursday snapped a 13-day winning streak, its longest since 1987.

Big tech shares were among the day's leading gainers. The S&P 500's communications services sector rallied. Intel's rise lifted an index of chip stocks.

The benchmark 10-year U.S. Treasury yield fell to 3.968%, from 4.011% on Thursday. Japan's central bank on Friday let the yield on its 10-year government bond rise to a nearly nine-year high. (Here's the Heard on the Street take on the Japan story—plus an explainer.)

Oil rose. Brent crude, the global benchmark, ended the week up 4.8% to just under $85 a barrel, its largest one-week gain since April and a fifth-consecutive weekly rise.

Get smarter about markets with our free newsletters, delivered to your inbox every weekday morning and evening.

Adblock test (Why?)



from "market" - Google News https://ift.tt/zyRwv8k
via IFTTT

Comments

Post a Comment

Popular posts from this blog

After street vendor crackdown, Corona Plaza market is a changed place - Gothamist

Image
The stretch of pavement in Queens where Liliana Sanchez used to sell aguas frescas has been empty since city sanitation police forced her to pack up her pop-up tent canopy. Her 16-year-old daughter now spends school nights and weekends busing tables to help pay rent. Across the street from Corona Plaza, sales at Alondra Cardoso’s hair salon have dipped 30%, or some $200 to $300 dollars a week, since the clientele from the former street vendor market no longer venture into her shop. Delivery worker Jorge Marin, 35, now orders breakfast from a bakery at a nearby intersection. He used to load up on tamales and yogurt and steaming cups of champurrado at the market, which expanded during the height of the pandemic. Now, at the bakery, he said he spends more for less. “It’s been dead,” Queens Borough President Donovan Richards said of the plaza since the vendors’ departure. “It’s taken the life out of the community.” The scene on a recent day in Corona Plaza, Queens, where a crack
Read more

Consumer Price Inflation, by Type of Good or Service (2000-2022) - Visual Capitalist

Image
Published 1 day ago on February 22, 2023 Consumer Price Inflation, by Type of Good or Service (2000-2022) The Consumer Price Index (CPI) provides a steady indication of how inflation is affecting the economy. This big picture number is useful for policymakers and professionals in the financial sector, but most people experience inflation at the cash register or checkout screen. Since the start of the 21st century, U.S. consumers have seen a divergence of price movements across various categories. Nowhere is this better illustrated than on this chart concept thought up by AEI’s Mark J. Perry . It’s sometimes referred to as the “chart of the century” because it provides such a clear and impactful jump-off point to discuss a number of economic forces. The punchline is that many consumer goods—particularly those that were easily outsourced—saw price drops, while key “non-tradable” categories saw massive increases. We’ll look at both situations in more detail below. Race
Read more