Stocks advanced on Monday extending last week’s rally, after Greece agreed to a bailout deal. The Dow rose 217, the S&P closed up 23 and the Nasdaq gained 74. U.S. stocks steadily drifted higher for a fourth consecutive session of gains Tuesday, as investors took stock of disappointing June retail sales numbers and how the data factor into the Federal Reserve’s plans for a rate hike.
The S&P added 9, the Dow gained 76 points and the Nasdaq moved up 33. The markets were relatively quiet on Wednesday with the Dow losing 3, the S&P down 2 and the Nasdaq declining 6. That is all the market information available at the time of this recording.
US regulators have become increasingly concerned in recent months about unstable trading in the $12.6 trillion US Treasury market, where investors turn for haven securities and set interest rates that are a benchmark for much of the rest of the global financial system.
Chinese companies are turning to an unlikely source for profits in the soft economy, the country’s red hot stock markets. Chinese companies are finding stock investing an attractive option as the wider economy struggles with tepid demand, excess industrial capacity, persistently high borrowing costs and other troubles.
Listen in for much more in the Wall Street Wrap-up.
