News Highlights: Top Global Markets News of the Day - Friday at 11 AM ET

Home Prices Hit a Record High 
 

The national median existing-home price rose 5.8% in May from a year earlier to $419,300, a record in data going back to 1999, the National Association of Realtors said Friday.

 
U.S. Business Activity Grows as Europe Recovery Slows 
 

Business activity in the U.S. continued to grow rapidly this month, according to surveys of purchasing managers released Friday, but there were signs of a surprise slowdown in Europe as political uncertainty disrupted the flow of new orders.

 
S&P 500, Nasdaq Slip Further From Records 
 

The S&P 500's hot week looked to be ending on a quieter note as the benchmark index opened slightly lower.

 
Nvidia's Success Is the Stock Market's Problem 
 

The S&P 500 is soaring to new records driven by Nvidia, while less-important companies fall and remain far below their highs.

 
If You Can't Beat High Mortgage Rates, Consider Joining Them 
 

A high cost to borrow is also resulting in higher yields for investors in some mortgage bonds.

 
Knockoffs No Longer: Store Brands Get Fancy in a Private-Label Revolution 
 

Private-label products are gaining in quality and market share in the U.S., following a playbook mastered in Europe.

 
Japan Inflation Picks Up, Adding to Hopes for Rate Hikes by BOJ 
 

Japan's consumer inflation picked up in May, adding to market expectations for interest rate increases from the Bank of Japan.

 
Bitcoin Price Drops. MicroStrategy Is Still Buying More. 
 

The largest crypto was falling on Friday despite a major purchase of the crypto by software company MicroStrategy.

 
Fed's Barkin Says Inflation to Linger as Rate Hikes Take Full Effect 
 

The Richmond Fed president, who is currently a voting member of the bank's policymaking committee, describes himself as a "Fed optimist."

 
U.K. Retail Sales Rebound in May 
 

U.K. retail sales volumes rose 2.9% in May, recovering by more than expected from the wet weather in the prior month.

(END) Dow Jones Newswires

June 21, 2024 11:15 ET (15:15 GMT)

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