Warsh Says Price Risks Fading, While Most Stocks Rise – US Market Wrap

Most stocks in the US rose on signs of economic strength and easing pricing pressures, with Fed Chair Warsh stating inflation concerns had decreased.
Economically vulnerable areas of Wall Street rallied as statistics indicated that industrial activity increased for the sixth consecutive month as a war-driven jump in input costs subsided. While the majority of companies in the S&P 500 climbed, a drop in chipmakers caused the file index to fluctuate. Two-year yields edged down. Oil prices fell after the US announced that indirect negotiations with Iran were promising.
Apple is in talks to buy chips from two Chinese semiconductor firms on a Pentagon blacklist to help mitigate the impact of a global memory scarcity that has caused the company to boost prices across its product line.
Meta is developing plans for a cloud infrastructure firm that will provide access to AI computing power and models, creating a new source of competition for industry players such as Amazon Web Services, Microsoft Azure, and Google Cloud.
In June, the ISM Manufacturing index approached a four-year high. Prices for raw commodities increased at a slower rate. The group’s pricing index fell the most in a single month since July 2022, as an interim agreement between the United States and Iran sent oil prices plunging.