Stocks edge higher on Wall Street
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Shares of Royal Caribbean Group were hovering just below record levels on Wednesday, after the new most bullish analyst on Wall Street said they still have a lot further to rally.
World shares are mostly higher, with financial markets shrugging off U.S. tariff pressures on its trading partners
Financial market participants have pushed out yet again the end date for the effort to shrink the size of the Federal Reserve's large balance sheet, the minutes of the U.S. central bank's June 17-18 policy meeting showed on Wednesday.
The crypto-fueled betting market on whom President Donald Trump will pick to be next Fed chair (as long as he does so by the end of the year) moved toward Kevin Hassett following a new Wall Street Journal article chronicling the race.
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Wall Street was relatively quiet with major indexes ticking up modestly as the Trump administration seeks to win more favorable deals with global trading partners.
Airline industry sees record passenger growth, signaling strong demand and economic resilience. Read here for more analysis.
Apollo, for one, expects just one rate cut in 2025. JPMorgan strategists forecast two. Goldman Sachs last week updated its prediction to three, starting in September, arguing that moderating growth and elevated borrowing costs will force the Fed’s hand.
The S&P 500 fell 0.8 percent, while the tech-heavy Nasdaq Composite slipped 0.9 percent, dragged down by losses in key technology stocks.