US Stocks Open Higher on Thursday

Tiger Newspress2022-06-23

Stock rose on Thursday, as the market tried to recover some of the steep losses suffered in 2022, even as Wall Street continued to weigh recession risks.

The S&P 500 traded 0.5% higher, while the Dow Jones Industrial Average were up 130 points, or 0.4%. The Nasdaq Composite rose 0.9%.

Alibaba shares rose more than 4% in morning trading.

Federal Reserve Chair Jerome Powell is set to speak on monetary policy for a second day Thursday with congressional lawmakers. On Wednesday, Powell said the central bank is "strongly committed" to bringing down inflation. He also noted that a recession is a "possibility," a fear that has continued to weigh on Wall Street.

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Comments

  • FT585
    2022-06-24
    FT585
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  • HENRYCSC
    2022-06-24
    HENRYCSC
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  • Bspn
    2022-06-24
    Bspn
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  • robot1234
    2022-06-24
    robot1234
    Biden needs to work with big business to beat inflation and help the economy, Jim Cramer says. CNBC’s Jim Cramer on Thursday said President Joe Biden needs to team up with business leaders in order to bring inflation down and help the economy recover.“There’s another reason we have all of these supply shortages: Our government doesn’t have a productive relationship with big business,” the “Mad Money” host said. Like it or not, big business has the ability to rein in inflation, but they don’t have any incentive to do so,” he added.
  • PearlynCSY
    2022-06-24
    PearlynCSY
    El-Erian: It’s 'uncomfortably possible' that the Fed will 'push us into recession' The Federal Reserve’s ability to achieve a soft landing in its fight against inflation is looking increasingly less likely, according to economists and the central bank itself. “It is, unfortunately, uncomfortably possible that the Fed is going to slam on the brakes and push us into recession,” economist Mohamed A. El-Erian said on Yahoo Finance Live in an interview Thursday. El-Erian’s remarks come as Wall Street strategists ratchet up their expectations for an economic slowdown following the Fed’s move last week to raise interest rates by 75 basis points, the most aggressive hike in decades. One of those mistakes, he pointed out, is that the U.S. central bank was too late to acknowledge that inflation
  • Huat1333
    2022-06-24
    Huat1333
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