U.S. stocks end mostly lower as Nvidia drops sharply
Major U.S. stock indexes closed mostly lower Thursday, with the technology-heavy...
Major U.S. stock indexes closed mostly lower Thursday, with the technology-heavy Nasdaq Composite posting the biggest losses.
According to preliminary data from FactSet, the Nasdaq dropped 0.8%, the S&P 500 fell 0.3%, and the Dow Jones Industrial Average gained 0.8%. Chip maker Nvidia Corp. finished sharply lower Thursday, erasing earlier gains in the session as the S&P 500’s tech sector struggled.
Both Treasury yields and gold rose on today’s economic readings, including a small decline in jobless claims. Gold hit a new two-week high.
Bitcoin continued to recover from its lows earlier this month, though it stumbled today due to high selling among whales.
Russia and North Korea signed a mutual defense pact
Russian President Vladimir Putin visited North Korea, and the two increasingly...
Russian President Vladimir Putin visited North Korea, and the two increasingly isolated nations agreed to come to one another’s aid in the event of “aggression” against either of them. Though full details of the apparently sweeping deal to tighten their relationship were not released, the AP reported it could represent the strongest collaboration between the two countries since the Cold War.
🚀Astronauts’ return to Earth delayed over Boeing ship’s issues
Boeing recently got a break from its PR troubles when it finally succeeded...
Boeing recently got a break from its PR troubles when it finally succeeded in its long-delayed launch of its Starliner rocket, which ferried two astronauts to the International Space Station. But now the company has a “what goes up must come down” problem. NASA and Boeing have postponed the astronauts’ return until at least June 26 in order to keep the spacecraft in orbit to study issues including helium leaks and malfunctioning thrusters, leaving the astronauts on the ISS almost twice as long as planned.
Tropical Storm Alberto, the first named storm of what’s expected to be an intense Atlantic hurricane season, has begun pouring down on Texas, bringing floods. Meanwhile, a heat dome continues to create scorching temperatures in parts of the Midwest and across the Northeast, putting 71 million people under a heat advisory or warning with record-breaking temperatures forecast in many places.
Bank of England keeps rates steady, eyes August for inflation review
On Thursday, the Bank of England decided to keep interest rates steady...
On Thursday, the Bank of England decided to keep interest rates steady since inflation reached its target 2% level in May.
By a 7-to-2 vote, the U.K. central bank kept rates at 5.25%.
“The restrictive stance of monetary policy is weighing on activity in the real economy, is leading to a looser labor market, and is bearing down on inflationary pressures,” it said. “Monetary policy will need to remain restrictive for sufficiently long to return inflation to the 2% target sustainably in the medium term in line with the MPC’s remit.”
