Market Uncertainty Looms Despite Fed's Efforts
US stocks fell on Friday, snapping their six-day winning streak, while the pan-European Stoxx 600 closed higher. Tesla's CEO Elon Musk said the value of the company depends on whether it can perfect autonomous driving technology. Amazon has canceled its re:MARS conference, which showcased developments in futuristic technologies, this year. Bank of America's Chief Investment Strategist Michael Hartnett admitted that bears have been wrong and that stocks will continue their current rally, but he worries it'll be a "big rally before big collapse." Microsoft's stock hit an all-time high of $342.33 per share on Friday after rising more than 43% this year, thanks to its early integration of AI with its products.
- CNBC Daily Open: The FOMO momentum CNBC
- Stocks may miss 'summer doldrums' given doubts about more Fed rate hikes MarketWatch
- A Market Still Desperately Seeking Clarity On The Inflation Picture FXStreet
- The Fed upped its estimate of what taming inflation will take | Mint Mint
- Asian stocks off to a slow start, eyeing China stimulus, Powell testimonies Reuters
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