News Highlights: Top Global Markets News of the Day - Friday at 1 PM ET
Home Prices Hit a Record High
The median price for existing homes in the U.S. rose to $419,300 in May, up 5.8% from a year earlier, as low inventory continued to spur bidding wars in some markets.
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.
Fed and FDIC flag problems with 'living wills' of four of the largest U.S. banks
Bank of America, Citibank, Goldman Sachs and JPMorgan are flagged, while BNY Mellon, Morgan Stanley, State Street and Wells Fargo get passing grades.
Canada Retail Sales Rise 0.7% in April, Pull Back in May
April's increase was driven by sales at gas stations and fuel vendors, in large part with a rise in fuel prices that then retreated in May.
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.
Week Ahead for FX, Bonds: Markets Nervously Await French Elections, Focus on U.S. PCE Data
Focus switches back to U.S. economic data in the coming week, while in Europe, the focus remains on politics and any moves in French assets.
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.
(END) Dow Jones Newswires
June 21, 2024 13:15 ET (17:15 GMT)
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