caption Chairman and CEO of Morgan Stanley James P. Gorman participates in a panel discussion at the New York Times 2015 DealBook Conference at the Whitney Museum of American Art on November 3, 2015 in New York City. source Neilson Barnard/Getty Images Stocks rose Wednesday, with the S&P 500 hitting a five-month peak, as strong earnings reports propelled financials and industrials higher. The dollar and Treasury yields climbed. Here’s the scoreboard: Dow Jones industrial average: 25,197.32 +77.43 (+0.31%) S&P 500: 2,816.03 +6.48 (+0.23%) The US housing market tumbled in June. Housing starts fell to a nine-month low last month, the Commerce Department said, down more than 12% from May. Construction permits also saw a third month of decline. Analysts say rising supply costs and mortgage rates could be pressuring an existing housing shortage. President Donald Trump said he might aim for separate trade deals with Mexico and Canada. The suggestion casts further doubt on the future of the two-decades-old North American Free Trade Agreement, which Trump has threatened to scrap. US oil production hit 11 million barrels per day for the first time. Domestic stockpiles unexpectedly rose by 5.8 million barrels, compared with analyst expectations for a two to three… Read full this story
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