Key Points
Wall Street opened higher on Friday after data signaling easing inflation pressures added to hopes that the Federal Reserve's policy tightening was ending, while chip stocks rose as Intel posted a surprise quarterly profit.. USannual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s...
On the earnings front, Intel's results and forecast pointed to an improving PC market, sending the chipmaker's shares up 3.9%...
On Thursday, the blue-chips Dow snapped its longest winning streak since 1987 as U.S. Treasury yields pressured stocks after news that the Bank of Japan will allow long-term interest rates to rise.. The Bank of Japan made its yield curve control policy more flexible and loosened its defense of a long-term interest rate cap, in moves seen by investors as a prelude to an eventual shift away from massive monetary stimulus...
All three major U.S. indexes are on track to end the week marginally higher, supported by Big Tech earnings, hopes that the Fed's monetary policy tightening was ending and the world's largest economy was heading for a soft landing...
Chevron CVX.N shed 1.6% after saying that its annual production forecast was near the low-end of its previously estimated range, while peer Exxon Mobil XOM.N fell 2.7% after the oil giant posted a 56% slump in quarterly profit.. Procter & Gamble PG.N climbed 2.5% after the consumer behemoth beat analysts' estimates for quarterly sales...
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