Stock market today: Wall Street hits 2023 high as it mulls whether economy is too warm or just right
By A Mystery Man Writer
Last updated 17 Jul 2024
Wall Street climbed to its highest level in 20 months following a stronger-than-expected report on the U.S. job market.
Wall Street climbed to its highest level in 20 months following a stronger-than-expected report on the U.S. job market. The S&P 500 rose 0.4% to clinch its longest weekly winning streak in four years. The Dow and Nasdaq also gained 0.4%. Treasury yields rose more sharply following the report, which said U.S. employers added more jobs than economists expected last month. The strong data keep concerns about a recession at bay, but the worry is a strong economy could also give inflation more fuel. That pushed traders to curtail bets for how many times the Federal Reserve will cut interest rates next year.
Wall Street climbed to its highest level in 20 months following a stronger-than-expected report on the U.S. job market. The S&P 500 rose 0.4% to clinch its longest weekly winning streak in four years. The Dow and Nasdaq also gained 0.4%. Treasury yields rose more sharply following the report, which said U.S. employers added more jobs than economists expected last month. The strong data keep concerns about a recession at bay, but the worry is a strong economy could also give inflation more fuel. That pushed traders to curtail bets for how many times the Federal Reserve will cut interest rates next year.
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