Vanguard Says US Tech 'Euphoria' Can Break One or Two Ways

Joe Davis, chief economist and global head of investment strategy at Vanguard, says the valuation gap between tech and other stocks will narrow in the coming years. "I think we can see some modest deceleration in the tech sector, at some point it has to come," Davis says on Bloomberg Television. "But if the economy holds up, I think other parts of the market could catch up and I think that would be good news."

BloombergJun 19 06:23 ET

Gold Market Analysis: US retail data shows consumer fatigue, gold rebounds slightly boosted.

Wang Gang, the Bank of China's Guangdong Provincial Branch, said that Tuesday's retail sales data showed signs of fatigue among American consumers. The slowdown in retail sales growth, coupled with rising prices and interest rates, forced families to prioritize basic necessities and cut discretionary spending. The Federal Reserve's tight financial conditions this year seem to have finally put pressure on household budgets. The weaker-than-expected retail sales report increased the possibility of the Fed cutting interest rates within several months. Federal funds rate futures indicate a 67% chance of at least one rate cut by the Fed before the end of September, up from 63% a day ago.

FX678 FinanceJun 19 01:11 ET

No Stopping S&P 500's Record Rally as Nvidia Beats Microsoft| Wall Street Today

There's no stopping the S&P 500's record rally. As usual, the benchmark got a boost from Nvidia, which bumped off Microsoft as the world's most valuable company.

Moomoo Recap USJun 18 16:38 ET

S&P 500 Notches Fresh Record as Nvidia Unseats Microsoft as Top Stock

The S&P 500 notched another intra-day record, as semiconductors continued to hog the limelight, with Nvidia bumping off Microsoft as the world's most valuable company.

Luzi Ann SantosJun 18 16:07 ET

Fed Watch: FOMC Officials Reiterate Patience, Data Dependence, Before Cutting Rates

Fed Governor Adriana Kugler (voter) said that it is possible that the FOMC could cut rates later in 2024 but said that currently inflation is too high and that further evidence that the recent improve

MT NewswiresJun 18 14:32 ET

Fed's Kugler Sees Rate Cut This Year and Says Economy Is 'Moving in Right Direction'

Federal Reserve Gov. Adriana Kugler on Tuesday said "it will likely become appropriate" to cut U.S. interest rates later this year if the economy continues to slow and inflation wanes as she expects.

MarketWatchJun 18 13:09 ET