FINANCIAL MARKET  WEEK:  (as of market close June 16, 2023)

In this week's financial market review and on wall street, stocks advanced for the third straight week as each benchmark index listed here climbed higher. According to the latest data, inflationary pressures may finally subside (read pdf). In addition, the Federal Reserve held interest rates at their current range following their meeting last week, although there are indications that at least one and possibly two more rate hikes are in store by the end of the year.

The Nasdaq gained 1.5%, the S&P 500 rose 0.9%, the Dow added 0.6%, the Russell 2000 advanced 0.4%, and the Global Dow increased 0.3%.

Crude oil prices dropped 4.2%, settling at about $67.24 per barrel, the lowest price since December 2021. Ten-year Treasury yields inched up 2.0 basis points to 3.76%. The dollar climbed marginally higher, while gold prices dipped lower.

Wall Street saw stocks rally last Monday ahead of inflation data and the Federal Reserve meeting. Traders may have acted based on the anticipation that the Fed would not hike interest rates.

• STOCKS CLOSED ANOTHER WEEK HIGHER
• WALL STREAT SAW STOCKS RALLY
• STOCK MARKET INDEXES
• LAST WEEK'S ECONOMIC NEWS
• EYE ON THE WEEK AHEAD