![]() Brent crude, the international standard, rose 10 cents to $72.36 a barrel. crude added 11 cents to $67.81 a barrel in electronic trading on the New York Mercantile Exchange. The two-year Treasury yield, which moves more on expectations for the Fed, rose to 4.76% from 4.74%. It helps set rates for mortgages and other important loans. Treasury rose to 3.76% from 3.72% late Monday. ![]() In the bond market, the yield on the 10-year U.S. But the hope on Wall Street is that a hike next month could be the final one for the Fed, even if it has suggested recently that it could raise rates twice more this year. That’s also the expectation for the Federal Reserve. High rates can undercut inflation, but they also can slow the entire economy, raising the risk of a recession.Ĭhristine Lagarde, the head of the European Central Bank, warned Tuesday that inflation is declining slowly and pledged to raise rates high enough "to break this persistence." She once again made it seem nearly certain the central bank will raise rates again in July. Such data will feed into decisions by the Federal Reserve and other central banks about whether to keep cranking interest rates higher. Lennar rose 4.1% and Toll Brothers rose 3.3%. Sales of new homes in May also topped economists’ expectations, which sent stocks of homebuilders climbing. A reading on consumer confidence jumped to its highest level since the start of 2022, and orders for long-lasting manufactured goods unexpectedly grew, beating economists' forecasts for a pullback. economy Tuesday were largely stronger than expected. ![]() The Dow Jones Industrial Average rose 0.6% to 33,926.74, while the Nasdaq composite gained 1.6% to 13,555.67. Wall Street rallied, with the S&P 500 resuming an upward climb that had carried it earlier this month to its highest level in more than a year. Hong Kong's Hang Seng fell 0.1% to 19,122.34, while the Shanghai Composite dipped 0.9% to 3,160.19. The Reserve Bank of Australia made a surprise move of raising interest rate earlier this month to counter persisted price pressures. The most significant price rises included housing and food. TOKYO - (AP) - Asian shares were mixed on Wednesday despite a rally on Wall Street driven by optimism over reports suggesting the American economy is in better shape than feared.Īustralia's benchmark S&P/ASX 200 jumped 1.1% to 7,195.70 after the government reported that the consumer price index rose 5.6% in the twelve months to May. ![]()
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