The Dow rose on Tuesday for the first time in seven days as Wall Street readied for the end of the first half and investors piled back into tech stocks. The Dow rose 0.63%. The S&P 500 gained 1.15%. The Nasdaq popped 1.65%.
The Federal Reserve could trigger a recession in the early months of 2024, Seth Klarman says
"The goal of the Fed is to reduce the heat in the economy, and one way to do that is to trigger some kind of recession," Klarman told CNBC's " New questions focused on household finance showed 30% of families expecting their situations to improve in the next six months against just 14% seeing worsening conditions. The survey also showed a decline in those expecting a recession, though still at 69.3% from the 73.2% in May.New home sales rose more than expected in May even as mortgage rates remain stubbornly high and buyers continue to fight a dearth of existing places to buy.
Available homes for sale totaled 428,000, equating to 6.7 months of supply. Of the total sales,195,000 homes have not been started yet while 298,000 are under construction. The median sales price was $416,300, while the average price was $487,300.
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