Stocks rebounded after posting their worst week since March as earnings tumbled. Treasury bonds fell as comments from a US Federal Reserve official suggested interest rates could stay higher for longer to contain inflationary pressures.
The S&P 500 halted a four-day decline, while the Dow Jones Industrial Average posted its biggest rise in more than seven weeks. Berkshire Hathaway Inc. hit a record high as its results beat estimates. Amazon.com Inc. rose after it was revealed the company will meet with the Federal Trade Commission to avoid an antitrust lawsuit. Tesla Inc. slipped when its chief financial officer resigned, prompting a surprise upheaval at Elon Musk’s company. Apple Inc. posted its longest losing streak this year.
Comments are closed.