OPEC and its oil-producing allies agreed on Thursday to hike output in July and August by a larger-than-expected amount as Russia’s invasion of Ukraine wreaks havoc on global energy markets.
Stocks rebound from earlier losses as investors shake off weak Microsoft outlook, Fed hike fears
U.S. stocks were mostly higher Thursday as investors shook off weak guidance from technology bellwether Microsoft and worries about Federal Reserve rate hikes.
Bear market rallies are the new norm ‘for now,’ top strategist says
The new norm for the stock market after a wild May, according to top strategist Liz Ann Sonders at Charles Schwab, may bear market rallies: i.e., large rallies followed by larger drops that keep markets in a broader decline.