Stock Market Overview
Fri, Jun 23rd, 2023
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Stocks Fall as Recession Odds Rise on Weak PMI Reports
Barchart - Fri Jun 23, 4:09PM CDT
What you need to know…
The S&P 500 Index ($SPX) (SPY) Friday fell by -0.77%, the Dow Jones Industrials Index ($DOWI) (DIA) fell by -0.65%, and the Nasdaq 100 Index ($IUXX) (QQQ) fell by -1.00%.
U.S. stocks were undercut by Friday’s weak U.S. and Eurozone purchasing manager index (PMI) reports, which indicated that the U.S. and Eurozone economies are struggling even as the Fed and the ECB plan further rate hikes.
Stocks Friday did not get much of a lift from lower global bond yields, which fell on the weak U.S. and Eurozone PMI reports. The 10-year T-note yield fell by -6.2 bp, the German 10-year bund yield fell sharply by -14 bp, and the 10-year UK gilt yield fell by -5 bp.
Even before the PMI reports, investors were in a gloomy mood after Fed Chair Powell earlier this week warned that higher interest rates are likely and after the Bank of England raised rates by +50 bp. The FOMC, at its meeting last week, left its funds rate target range unchanged at 5.00%... Read more
Russian mercenary chief says his forces are rebelling, some left Ukraine and entered Russia city
AP - 1 hour ago
The Russian owner of the private military contractor Wagner has made his most direct challenge to the Kremlin yet, calling for an armed rebellion aimed at ousting Russia’s defense minister
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Transportation Secretary Pete Buttigieg is warning airlines to be ready when wireless companies power up their 5G service next month
Stocks Fall as Recession Odds Rise on Weak PMI Reports
Barchart - Fri Jun 23, 4:09PM CDT
What you need to know… The S&P 500 Index ($SPX ) (SPY ) Friday fell by -0.77%, the Dow Jones Industrials Index ($DOWI ) (DIA ) fell by -0.65%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) fell by -1.00%....
Stock market today: Wall Street falls to close out its first losing week in the last six
AP - Fri Jun 23, 3:23PM CDT
Another drop for stocks helped drag Wall Street to its first losing week in the last six
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The stock market has been around for centuries. Movement in stock market is influenced by the demand vs supply factor. The simple way to explain equity market is the aggregation of buyers and sellers of...
Carlos Ghosn says $1 billion lawsuit against Nissan is reasonable given his suffering after arrest
AP - Fri Jun 23, 2:34PM CDT
Carlos Ghosn says that the $1 billion lawsuit he recently filed against Nissan and others is just the beginning of his fight
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