Wall Street Today | World Bank Brightens View of Global Growth This Year, Downgrades 2024

The World Bank sees better global economic growth than previously estimated in 2023, thanks to resilient U.S. consumer spending.

The bank still expects slowing growth in the second half of this year and a muted expansion into next year, according to its forecast released Tuesday. It warned that stubbornly high inflation and interest-rate increases are weighing on economic activity around the world, particularly in developing countries.

Major indexes have overcome a series of challenges to power higher this year. But some investors are worried that this performance rests on just a few heavyweight stocks. 

But for some investors and analysts, things don’t look so cheery below the surface. Market breadth, which reflects how many stocks participate in a rally, has narrowed, signaling possible trouble ahead.

American workers' wages are back to growing faster than inflation—but signs are emerging that could be short-lived.

Oil futures ended lower on Tuesday, with worries over the global economic outlook leading prices to give back gains seen in the wake of Saudi Arabia's plan to further cut its production in July.

The oil and gas giant said that it had decided to sell the unit after a five-month review.

The business has already been put up for sale, and there are reports that Ovo and Octopus Energy have launched bids for the unit.