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Stocks lose steam as investors digest fresh economic data: Stock market news today

June 16, 2023
Source: finance.yahoo.com finance.yahoo.com
News Snapshot:
US stocks lost some steam in late morning trading on Friday after rallying the previous day amid signs of a resilient economy that boosted hopes the Federal Reserve could end its rate-hike campaign soon. But new economic data suggests that might not be the case after The University of Michigan Consumer Sentiment Index showed consumers are slightly more confident about the state of the economy, which could help tilt a "hawkish" Fed closer to a July rate hike. The June preliminary number came in at 63.9, compared to expectations of 60.5, according to estimates from Bloomberg. The index had dipped...
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