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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 15, 2023
Page
8
The Commerce Department reports May retail sales, with analysts forecasting a 0.2 percent drop after a 0.4 percent rise in April. Cautious consumer spending follows earlier momentum, while inflation eases yet remains high. The squeeze on wallets fuels recession fears.
A veteran investor with nearly four decades in the business calls the current market the worst he has experienced, signaling broad disappointment and concern over rising volatility and losses across stocks.
Wall Street finished with a mixed close after the Fed hinted at two additional rate increases this year. The S&P 500 barely rose as traders weighed the central bank's outlook and potential policy path amid ongoing volatility.
The Dow fell while the Nasdaq rose after the Fed signaled rates would stay steady to assess the impact of 15 months of rate hikes on the economy. AMD and UnitedHealth Group closed at 459.86 and 459.86 respectively, with UnitedHealth noting higher costs ahead due to pent-up surgery demand.
Grants totaling 210 000 for Natural and Cultural Heritage Conservation support riverbank restoration and wildlife habitats around Douglas County. Lawson Brothers Farm Partnership and Lecompton Historical Society receive funding for preservation projects at historic sites, with multiple universities and local groups allotted smaller sums for research, education, and cultural outreach initiatives.
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