Stocks Retreat After Fed Minutes Show Uncertainty Over Inflation
Investors also digested earnings from chip maker Nvidia and home builder Toll Brothers.
Fed Officials Saw Longer Wait for Rate Cuts After Inflation Setbacks
Minutes of their last meeting revealed some officials were open to raising rates if inflation reaccelerated.
U.S. Crude Oil Stockpiles Rose Last Week
U.S. crude oil inventories rose by 1.8 million barrels last week and gasoline stocks fell, while refineries stepped up their capacity use for a third consecutive week
Home Sales Fell Again in April After High Mortgage Rates Damped Activity
Sales of previously owned homes decreased 1.9% from the prior month to a seasonally adjusted annual rate of 4.14 million.
30-year mortgage rate drops to a seven-week low
Mortgage rates fell for the third week in a row, boosting refinancing activity.
Singapore's Economy Grew at Faster Pace in First Quarter
Growth in sectors such as construction, wholesale trade, and retail trade overcame contraction in the manufacturing sector.
Some European Countries Move to Recognize Palestinian State
The announcements by Norway, Ireland and Spain reflect deepening frustration with Israel's war in Gaza, where the Israeli military was moving deeper into Rafah.
Gold's Latest Allure? It's Sanctions-Proof
Buying from central banks, particularly from China, can keep the gold rally going even if anxious individual investors don't jump in.
Hedge funds cut stakes in Magnificent Seven to invest in broader AI boom
Money managers invested in utility companies, chip makers, and technology firms that could benefit from the growth of the AI sector, Goldman Sachs analysis shows
Indonesia's Central Bank Stands Pat
Bank Indonesia stood pat at its May policy meeting, a widely expected decision as policymakers keep an eye on rupiah stability and inflation against an uncertain backdrop.
(END) Dow Jones Newswires
05-22-24 2115ET
