Wall Street ends down as data spooks investors awaiting Fed report
Wall Street’s main indices closed lower on Tuesday as data showing stronger inflation and weaker U.S. retail sales in May spooked already-jittery investors awaiting the results of the Federal Reserve’s latest policy meeting.Assurance from the Fed that rising prices are transitory and falling U.S. Treasury yields have helped ease some concerns over inflation and supported U.S. stocks in recent weeks. All eyes are now on the central bank’s statement at the end of its two-day policy meeting on Wedn
Nasdaq rises to an all-time closing high, S&P 500 ekes out another record
The Nasdaq Composite jumped to a record high on Monday as investors rotated back into growth-oriented stocks ahead of a key Federal Reserve meeting.The tech-heavy benchmark rose 0.7% to an all-time closing high of 14,174.14, overtaking the previous record on April 26. The S&P 500 gained about 0.2% to another record close 4,255.15, boosted by the technology sector. The Dow Jones Industrial Average slipped 85.85 points, or nearly 0.3%, to 34,393,75.Investors are giving growth and tech stocks anoth
The Chinese electric-vehicle makers both have rich valuations, even after a downturn in share prices.Stocks of electric-vehicle makers accelerated in 2020. And it's no secret that Chinese EV stocks were some of the most popular, as the largest automotive market in the world continues to move toward electrification in its transportation sector.EV sales in China surpassed 1 million in 2020, and the government hopes to grow that to 5 million by 2025. It could reach 10 million by 2030, and approach