Stock Market News

U.S. stocks are rising as investors prepare for Fed meeting, inflation numbers

2023.06.07 10:08


© Reuters.

Investing.com — U.S. stocks were rising as investors looked forward to the Federal Reserve’s next meeting and new information on inflation.

At 9:42 ET (13:42 GMT), the was up 61 points or 0.2%, while the was up 0.3% and the was up 0.5%.

Earnings season is winding down as investors prepare for the next week. In economic data, the trade deficit rose in April but not by as much as expected.

Treasury Secretary Janet Yellen told CNBC she wouldn’t be surprised to see more bank mergers. The Fed is expected to release the results of its latest stress test on the 23 biggest banks, and at the same time there are expectations that regulators will tighten capital standards for banks.

“There is motivation to see some consolidation and it wouldn’t surprise me to see some of that going forward,” Yellen told CNBC.

The Fed will meet next week, and futures traders expect it will pause on more interest rate increases while it studies how well its 10 consecutive increases since last year have worked to cool inflation.

Before its decision, the for May will be released on Tuesday.

In corporate earnings, Stitch Fix (NASDAQ:) stock rose 30% after the online personal styling company reported better-than-expected . Campbell Soup Company (NYSE:), meanwhile, quarterly profit estimates after price hikes and maintained its annual forecast, but shares fell 7.5%.

Dave & Buster’s Entertainment (NASDAQ:) shares rose 20% after the arcade and restaurant chain and said it planned to open 20 locations in India and Australia.

Oil rose. was up 1.1% to $72.56 a barrel, while was up 1% to $77.09 a barrel. was down 0.2% to $1,985.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 82,651.14 1.88%
ethereum
Ethereum (ETH) $ 1,882.20 2.27%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.31 5.29%
bnb
BNB (BNB) $ 599.41 0.47%
solana
Solana (SOL) $ 129.97 3.29%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.707586 5.37%
dogecoin
Dogecoin (DOGE) $ 0.168199 3.97%
tron
TRON (TRX) $ 0.214709 4.01%
staked-ether
Lido Staked Ether (STETH) $ 1,881.25 2.21%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 82,527.11 1.64%
pi-network
Pi Network (PI) $ 1.46 0.07%
leo-token
LEO Token (LEO) $ 9.75 0.12%
chainlink
Chainlink (LINK) $ 13.56 3.41%
the-open-network
Toncoin (TON) $ 3.38 15.24%
usds
USDS (USDS) $ 1.00 0.05%
stellar
Stellar (XLM) $ 0.264733 4.14%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,252.94 2.38%
hedera-hashgraph
Hedera (HBAR) $ 0.186836 3.16%
avalanche-2
Avalanche (AVAX) $ 18.56 0.10%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 0.07%
sui
Sui (SUI) $ 2.24 4.05%
litecoin
Litecoin (LTC) $ 89.07 4.83%
bitcoin-cash
Bitcoin Cash (BCH) $ 325.92 4.46%
mantra-dao
MANTRA (OM) $ 6.56 0.50%
polkadot
Polkadot (DOT) $ 4.23 3.55%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.00%
weth
WETH (WETH) $ 1,882.08 2.33%
bitget-token
Bitget Token (BGB) $ 4.38 0.88%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.03%
hyperliquid
Hyperliquid (HYPE) $ 13.45 6.70%
whitebit
WhiteBIT Coin (WBT) $ 28.63 0.54%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,000.72 2.37%
monero
Monero (XMR) $ 209.34 0.55%
uniswap
Uniswap (UNI) $ 6.03 1.52%
susds
sUSDS (SUSDS) $ 1.04 0.02%
dai
Dai (DAI) $ 1.00 0.01%
aptos
Aptos (APT) $ 5.20 2.40%
near
NEAR Protocol (NEAR) $ 2.54 3.59%
pepe
Pepe (PEPE) $ 0.000007 4.91%
okb
OKB (OKB) $ 45.68 1.21%
internet-computer
Internet Computer (ICP) $ 5.61 2.03%
mantle
Mantle (MNT) $ 0.80387 8.36%
ondo-finance
Ondo (ONDO) $ 0.825717 5.79%
ethereum-classic
Ethereum Classic (ETC) $ 17.34 3.53%
gatechain-token
Gate (GT) $ 21.00 0.95%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 82,668.15 1.76%
aave
Aave (AAVE) $ 165.31 4.95%
tokenize-xchange
Tokenize Xchange (TKX) $ 29.94 2.16%