S&P 500, Nasdaq Hit New Records 

Shares of Macy's rose, while Lowe's stock fell after the retailers reported results.

U.K. Inflation Closes In on Bank of England Target as Rate Cuts Near 

The U.K.'s consumer prices were 2.3% higher in April, nearing the Bank of England's target and opening the way for a rate cut in the coming months, although prices of services continued to rise at a pace that will concern policymakers.

Fed Is In 'Risk Management' Mode with Rate Policy as It Seeks Clarity on Inflation 

Fed Presidents Mester, Collins, and Bostic preach patience in determining whether price growth is cooling.

Japan's 10-Year Government Bond Yield Hits 11-Year High of 1.0% 

Japan's 10-year government bond yield climbed to 1.0% for the first time in 11 years on Wednesday, propelled by growing expectations that the country's central bank may take further tightening steps in the coming months.

Risky Bonds Join the Everything Rally 

The premium paid by high-yield debt falls to near pandemic-era lows.

Crypto Takes Aim at 2024 Elections 

Coinbase, Kraken and others are fighting for survival after a regulatory crackdown.

Chinese Business Group Warns of Tariff Hikes on Car Imports 

A Chinese business group warned of possible tariff increases on car imports in retaliation for moves by the U.S. and European Union on Chinese electric vehicles.

New Zealand Central Bank Keeps Rates on Hold 

The Reserve Bank of New Zealand signaled that interest rates might need to remain restrictive for longer than expected due to stubborn inflation, delivering a hawkish shock to money markets.

Japan's Exports Rise for Fifth Straight Month 

The climb was driven by cars and semiconductor manufacturing equipment, but it was lower than the forecast expansion.

The stock market has already chosen a winner in the 2024 presidential election 

'It's the stock market, stupid!' Dow Jones Industrial Average is a surprisingly reliable election predictor.

(END) Dow Jones Newswires

05-22-24 0315ET