The U.S. stock market has climbed to its highest level since August on hopes the economy may avoid a recession and the Federal Reserve may soon take it easier on its hikes to interest rates. Wall Street climbed Monday ahead of a big week for central banks around the world, vaulting the Standard & Poor’s 500 index to its highest level in more than a year. The U.S. stock market has been cruising on hopes that the economy will avoid a recession and the Federal Reserve may soon take it easier on its hikes to interest rates. Higher rates have also forced down the values of bonds and other investments banks made when interest rates were low. Besides the Fed, central banks in Europe and Japan will also be meeting this week on interest rates.

Source: Los Angeles Times June 12, 2023 21:34 UTC