From Yahoo Finance: 2025-05-15 13:22:00

Wall Street traders drove stocks higher on the expectation of Federal Reserve interest rate cuts. Bond yields fell, with the S&P 500 rising for a fourth day. Retail sales growth slowed, factory production declined, and homebuilder confidence slumped. The S&P 500, Nasdaq 100, and Dow Jones all rose, while the yield on 10-year Treasuries dropped.

Oil prices dropped as US and Iran moved closer to a deal on Tehran’s nuclear program. Despite signs of economic slowdown, concerns about the impact of tariffs linger. Wells Fargo predicts further stock gains this year and next, with the S&P 500 forecast to reach between 6,400 and 6,600 by year-end.

JPMorgan Chase CEO Jamie Dimon warns of a possible recession due to ongoing tariff issues. Apollo Global Management President Jim Zelter sees a decrease in recession probability. Deutsche Bank’s George Saravelos highlights concerns over the US fiscal deficit. The dollar’s decline affects currency hedging costs globally.

Corporate news includes Dick’s Sporting Goods acquiring Foot Locker, President Trump urging Apple to increase US production, and Deere & Co. beating earnings estimates. Coinbase faces a $20 million ransom demand, while BlackRock’s executive pay proposal gains approval. Alibaba’s revenue growth disappoints, and Shein Group lowers prices after tariff cuts.

Market movements show the S&P 500, Nasdaq 100, and Dow Jones rising, while the Bloomberg Dollar Spot Index falls. Cryptocurrencies see mixed movement, with Bitcoin rising and Ether falling. Bond yields decline for 10-year Treasuries, Germany, and Britain. Crude oil falls, while spot gold rises.



Read more at Yahoo Finance: S&P 500 Rises as Fed-Cut Bets Sink Treasury Yields: Markets Wrap