"Powell's Rate Hike Views Shake Dow, Pound Sterling, and S&P 500; Apple and Tesla Await"

The Dow Jones Industrial Average fell 0.2% after Fed Chair Jerome Powell hinted at consecutive interest rate hikes this year. The S&P 500 ended unchanged, while the Nasdaq gained 0.3%. Retail and wholesale inventories rose in May, potentially supporting cooling inflation. Crude oil jumped nearly 3% as inventories dropped. The yield on the 10-year Treasury note dropped to 3.71%. Outside the Dow, leisure and travel stocks rose, while Advanced Micro Devices fell on news of a possible ban on shipping AI chips to China. Tesla's stock rose ahead of second-quarter deliveries, and Apple approached a $3 trillion market capitalization.