Salesforce Inc. shares were on track for their best day since the summer of 2020 Wednesday after earnings were "better than feared." Read More...
Reuters
Wall St down as economic data fails to ease rate hike angst
U.S. stocks were in the red on Wednesday as investors bet that the latest economic data would do nothing to push the Federal Reserve off track from its aggressive interest rate hiking cycle aimed at taming run-away inflation. Data showed that while U.S. job openings fell in April, they remained at high levels, suggesting a continuation of wage increases as companies scramble for workers, which would contribute to inflation staying uncomfortably high. Investors viewed the data mostly through the prism of what it might mean for interest rates, said Mark Luschini, chief investment strategist, Janney Montgomery Scott.
