Market Week: June 20, 2023
The Markets (as of market close June 16, 2023)
Stocks advanced for the third straight week, as each of the benchmark indexes listed here climbed higher. Inflationary pressures may finally be subsiding, according to the latest data (see below). In addition, the Federal Reserve held interest rates at their current range following their meeting last week, although there are indications that at least one, and possibly two more rate hikes are in store by the end of the year. With more interest rate hikes forecast, long- and short-term Treasury yields advanced. Despite a dip at the end of the week, the Nasdaq and the S&P 500 had their best week since March. Crude oil prices ebbed and flowed throughout much of the week, ultimately rallying to close higher. The dollar and gold prices declined.