Wall Street advances after a week of losses
Wall Street capped a week of losses with a broad rally as investors welcomed solid earnings from United Health Group and Citigroup and a May-July Michigan survey showing steady or improving inflation expectations. The S&P 500 rose 1.9 percent, the Dow gained 2.1 percent, and the Nasdaq rose 1.8 percent with Wells Fargo and JPMorgan posting mixed results ahead of next week’s reports.
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Biden blocks rail strike by naming arbitrators nationwide
President Biden blocked a freight railroad strike by appointing a 60 day board of arbitrators to craft contract recommendations for 115,000 rail workers. Negotiations may resume after the panel issues guidance, with Congress likely to act if no deal is reached.
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the Market IN Review
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