NEW YORK—Wall Street closed out its best week since March with a quiet finish on Friday, and stocks drifted to modest losses. The S&P 500 fell 16.25 points, or 0.4 percent, to 4,409.59 after wobbling through the day. It still closed out a fifth straight winning week for its longest such streak since November 2021,…
Stock Market Today: Wall Street Slips, and Its Best Week Since March Comes to a Quiet Close
How Major US Stock Indexes Fared June 16
Wall Street closed out its best week since March on a quiet note. The S&P 500 fell 0.4 percent Friday after wobbling up and down through the day. The benchmark index still marked its fifth straight winning week, its longest such streak since November 2021. It’s also near its highest level since April 2022. The…
US Consumer Sentiment Jumps to Four-Month High on Debt-Cap Deal
June 16, 2023
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Declining fears over inflation lifted American consumers’ spirits this month. U.S. consumer sentiment reading rebounded in June following a decline in May, after concerns over the debt-ceiling crisis faded and investor were buoyed by a strong labor market and stock market gains due to artificial intelligence (AI). Consumers’ near-term inflation expectations dropped to more than…
Wall Street Opens Higher as Rate Hike Worries Ebb
Wall Street’s main indexes opened higher on Friday as signs of easing price pressures and slowing economic growth raised hopes the Federal Reserve could end its monetary tightening campaign soon. The Dow Jones Industrial Average rose 55.96 points, or 0.16 percent, at the open to 34,464.02. The S&P 500 opened higher by 15.11 points, or…
American Citizens’ 401(k) Accounts Lost a Fifth of Their Value in 2022
June 16, 2023
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The balances of 401(k) retirement accounts have declined in 2022, with the share of participants who are making “hardship withdrawals” hitting a “new high,” according to a recent report by investment firm Vanguard. “In 2022, the average account balance for Vanguard participants was $112,572; the median balance was $27,376. Vanguard participants’ average account balances decreased…
BOJ, ECB Rate Decisions Send Yen to Fresh 15-year Low Against Euro
LONDON/SINGAPORE—The yen fell to a new 15-year low against the euro on Friday after the Bank of Japan (BOJ) kept ultra-low interest rates and forecast that inflation will slow later this year in contrast with the European Central Bank’s (ECB) rate hike on Thursday. As widely expected, the BOJ maintained its -0.1 percent short-term interest…
Oil Falls as Demand Concerns Offset Supply Cuts
LONDON—Oil slipped on Friday as a weaker economic outlook and the prospect of further interest rate hikes dogged sentiment, outweighing a tighter market in the second half of the year owing to higher Chinese demand and OPEC+ supply cuts. The Bank of England is set to raise interest rates by a quarter of a percentage…
World Shares Reach 14-month Highs as Investors Shrug Off the Fed
June 16, 2023
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LONDON—Global shares rose to 14-month highs on Friday, as investors took the view that the Federal Reserve may not need to raise rates much more, while the dollar headed for its biggest weekly slide since January. The MSCI All-World index was up 0.2 percent, around its highest since mid-April 2022. This has been an intense…
Stock Market Today: Wall Street Jumps, and Its Winning Streak Kicks Into a Higher Gear
NEW YORK—Stocks swept higher Thursday, revving the longest rally for Wall Street in a year and a half into a higher gear. The S&P 500 rallied 1.2 percent to reach heights untouched since April 2022. The Dow Jones Industrial Average climbed 428 points, or 1.3 percent, while the Nasdaq composite rose 1.1 percent. Homebuilder Lennar…
How Major US Stock Indexes Fared June 15
Wall Street staged a broad-based rally, with the S&P 500 notching the biggest gain yet in its recent winning streak. The benchmark index rose 1.2 percent Thursday. The Dow was up 428 points, and the Nasdaq gained 1.1 percent. Treasury yields fell after mixed reports on retail sales, manufacturing and unemployment claims raised hopes the…
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