US stocks close higher for the week, AI trade stumbles, interest rate cut potential

From Yahoo Finance: 2024-06-22 00:04:00

US stocks finished the week higher, with the Dow Jones up 1.5% and the S&P 500 and Nasdaq 100 up 0.5%. The AI trade showed signs of stumbling, with Nvidia stock down 10% from its high. Investors eye economic data for potential interest rate cut in July amid recession risks. One economist sees a 60% chance of a cut at the July Fed meeting. The Fed is urged to act to prevent a recession, with interest rates potentially impacting economic stability. In commodities, oil prices fell while gold declined and Bitcoin dropped.

(Source: Business Insider)



Read more at Yahoo Finance: US stocks close mixed but gain for the week as the AI trade stumbles