Stock Market Update: Wall Street Consolidates Near All-Time Highs in Light Trading
Money | June 26, 2024, 5:44 p.m.
Stock indexes on Wall Street were close to all-time highs following a mostly subdued day of trading. The S&P 500 rose 0.2%, with about 65% of stocks falling. The Dow Jones finished slightly higher while the Nasdaq rose 0.5%. Amazon.com surpassed $2 trillion in market value, while General Mills saw a decline in revenue. FedEx and Rivian reported positive gains, and big tech companies like Apple and Microsoft also saw increases. Wall Street's focus is on the upcoming inflation report, which could influence the Federal Reserve's decision on interest rates. Treasury yields were mixed, with hopes of a rate cut in the future. The economy remains strong, but growth is slowing, and consumers are feeling the impact of inflation. Investors are closely watching economic indicators for signs of potential rate cuts by the Fed.