Wall Street edges higher as financial markets steady themselves
NEW YORK — U.S. stocks edged higher in a quiet Wednesday, and Treasury yields rose following an encouraging update on the job market’s strength.
While Israel is not a major producer of oil, Iran is, and a worry is that a broadening war could affect neighboring countries that are also integral to the flow of crude. Helping to keep oil prices in check, meanwhile, are signals that supplies remain ample at the moment. The amount of crude in U.S. inventories increased last week, according to a U.S. government report.
Stocks are near records in large part on the belief that the U.S. economy will indeed continue to grow, now that the Federal Reserve has shifted to cutting interest rates to give it more juice. The Fed last month lowered its main interest rate for the first time in more than four years and indicated more cuts will arrive through next year.
On Wall Street, Caesars Entertainment jumped 5.3% for the biggest gain in the S&P 500. The casino owner said it approved a new program to deliver up to $500 million to shareholders by buying back more of its stock. Nike sank 6.8% even though the athletic giant reported stronger profit for the latest quarter than analysts expected. Its revenue fell short of forecasts, and the slump shows how much work incoming CEO Elliott Hill has in making the brand cool among customers. Nike also pulled its forecast for full-year financial results and postponed its investors day conference.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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