Joe Rennison

The S&P 500 has climbed sharply this year, with few big swings. Below the surface, though, there’s a great deal of turmoil

The chip maker’s stock price has jumped over the last year thanks to its stranglehold on the market for the chips needed to build A.I. systems.

Stocks have recently set records as investors bet that the Federal Reserve might opt to cut interest rates sooner than previously expected.

The distress in commercial real estate is growing as some office buildings sell for much lower prices than just a few years ago.

The Texas Stock Exchange, based in Dallas, has the backing of BlackRock and Citadel Securities. But challengers to the dominant New York markets have gained little traction.

Investors seized on the latest inflation report as another sign that interest rates could be cut this year, helping push the S&P 500 past its March record.

Prices rose 3.4 percent in April from a year earlier, a slight easing from the previous month and a positive sign for the Federal Reserve.

A cooler-than-expected jobs report for April shifted the tone on Wall Street, rekindling investors’ expectations that the Federal Reserve may cut rates soon.

This was featured in live coverage.

This was featured in live coverage.

Two-thirds of the roughly 150 currencies have weakened against the dollar, whose strength stems from high interest rates because of stubborn inflation.

The former president is in line for a windfall after the stock price of Trump Media hit performance targets in its first few weeks of trading, raising the value of his already sizable stake.

A rally at the start of the year has given way to worries on Wall Street about economics and geopolitics.

The Fed chair, along with the central bank’s No. 2 policymaker, stressed uncertainties over job growth and the persistence of elevated inflation.

Funds that bet on a fall were set to profit as the parent of Truth Social came under renewed pressure after it registered new shares for a potential sale.

Investors had been put on edge by a stronger-than-expected inflation report earlier in the week. Rising tension in the Middle East heading into the weekend gave them another reason to retreat.

Stocks fell and bond yields jumped as investors reassessed when the Federal Reserve may begin cutting interest rates.

The move has puzzled Wall Street, as it comes as the outlook for the economy has improved and inflation has generally cooled.

The parent company of Truth Social is a popular target for short-sellers, even after they lost $100 million last month betting on a decline in the stock that didn’t come.

A rapid fall in price erased billions of dollars in the market value of the parent company of Truth Social, eating into some of the gains made in the volatile stock’s public debut.

The S&P 500, rising 10 percent, set the pace as investors looked forward to interest rate cuts.

Trump Media & Technology Group, fresh from a merger with a cash-rich shell company, started trading on the Nasdaq, adding billions of dollars to the former president’s wealth.

The influx of cash reflects optimism about the economy and company earnings despite high interest rates and stubborn inflation.

This was featured in live coverage.

Also, Japan’s interest rate hike and M.L.B.’s season opener.

Higher inflation and rising wages suggest that the country’s economy can grow without such aggressive stimulus from the central bank.

It was the S&P 500’s best day in more than a year, and the tech-heavy Nasdaq composite rose 3 percent.

The chipmaker’s high “price to sales” ratio reflects investor enthusiasm around its growth prospects. But relying on that metric created trouble during the dot-com boom.

A shift in investors’ outlook for Japan has encouraged a flurry of cash into the country’s markets.

Traders and strategists are thinking about all the ways that November’s election could alter the mood in markets.

A hotter-than-expected inflation report led investors to push out their expectations for Federal Reserve rate cuts until later in the year.

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Israel’s creditworthiness remains high, but the rating agency noted that the outlook for the country was negative considering the risks from the continued conflict.

The index is up TK percent this year.

Seven tech stocks, including Meta, Nvidia and Apple, have accounted for roughly 90 percent of the S&P’s gains over the past 12 months.

A change in perception among investors about China and Japan is one of the biggest themes in the markets right now.

See how a handful of stocks have had an outsize impact on the performance of the S&P 500

The S&P 500 crossed above its January 2022 peak after weeks of wavering. Investors have been buying stocks after homing in on signals that the Fed’s campaign of raising interest rates is over.

The S&P 500 logged its first weekly decline since October, ending Wall Street’s longest winning streak in nearly 20 years.

Analysts bullish on 2023 were largely right and expect more of the same in 2024. Bears caution that the Fed’s impact is yet to be determined.

The Fed’s rate increases since March 2022 have sent shock waves through financial markets, raising borrowing costs on things like mortgages and government debt and weighing on the stock market.

Firms may struggle to keep profits up if demand slows, but so far they are finding ways to keep margins wide.

The S&P 500 has risen over 10 percent from its October low, with November its best month of the year.

Mr. Munger’s death won’t affect the day-to-day operations of the conglomerate, but shareholders will miss his imprint on the company’s ethos.

Small businesses and risky borrowers face rising costs from the Federal Reserve’s moves, but the biggest companies have avoided taking a hit.

Stocks and bonds were buoyed after even inflation-focused Federal Reserve officials suggested that rates may stay steady.

Shares of smaller companies surged as yields on government bonds tumbled.

A series of data reports and actions by policymakers have led investors to reassess their assumptions about interest rates and the economy.

A routine announcement by the Treasury Department about its borrowing plans has attracted more attention than usual because of the rapid rise in interest rates.

The Bank of Japan said it would be more flexible in how it managed government bond yields, citing rising inflation.

The rapid rise in interest rates in recent months has shaken investors and cast a cloud over the economy.

The 10-year U.S. Treasury yield has threatened to break above 5 percent for the first time in 16 years, rattling the markets.

This was featured in live coverage.

Investors doubt that central bankers will lift borrowing costs again following big market moves that are widely expected to cool growth.

Employment data for September showed surprising strength in the economy, but that resiliency has become a cause for concern among investors.

Fed officials are happy when the labor market looks strong, but they are trying to cool the economy down to fully wrangle inflation.

A run-up in longer-term interest rates could help the Federal Reserve get the economic cool-down it wants — but it also risks a bumpy landing.

There’s unease on Wall Street, especially in the market for government bonds. The strong September jobs report is adding to the concerns.

Employers added 336,000 jobs in September, almost double what experts had forecast and the biggest gain since January. Markets welcomed the report.

A long period of higher interest rates would make the government’s large debt pile costly, a possibility that is fueling a conversation about debt sustainability.

The report from the Labor Department is the latest reading on how the economy is withstanding the escalation of interest rates.

A series of potential problems, including rising oil prices and labor strikes, have prompted a much warier mood among investors.

The Federal Reserve’s message of higher rates for a longer period of time has led investors to question their assumptions.

Federal Reserve officials forecast higher interest rates through 2026 this week, a sign that borrowing costs are not heading back to the rock-bottom levels normal before the pandemic.

This was featured in live coverage.

The rush by companies to borrow comes as fears of a potential recession recede and executives expect interest rates to remain high.

Jerome Powell, the Federal Reserve chair, warned in 2022 that the central bank might hurt the economy to cool inflation. This year, things look less dire.

Federal Reserve officials raised interest rates at their July 26 meeting, and freshly released minutes showed they remained focused on inflation risks.

Investors are worried about the Chinese economy teetering as well as signs that the U.S. economy may be growing too fast for inflation to moderate.

Fitch’s credit-rating decision stemmed from concerns about America’s ability to govern itself, along with the nation’s growing debt load.

The ratings agency, which lowered the U.S. long-term rating from its top mark, said debt-limit standoffs had eroded confidence in the nation’s fiscal management.

The S&P 500 is up more than 19 percent this year, but some still warn that the future may not be as rosy as that implies.

Stock markets often exhibit caution ahead of major events like Fed meetings, waiting until there is clarity over the central bank’s next move.

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Federal Reserve officials lifted borrowing costs by a quarter-point after pausing in June. Rates could rise more, but the central bank is not ready to commit.

Analysts warn that bankruptcies and defaults could jump as the world adjusts to higher interest rates.

Ukraine accused Moscow of specifically targeting the infrastructure for exporting food, after Russia pulled out of an agreement allowing ships carrying grain to sail past its Black Sea blockade.

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Most of the company’s bondholders have agreed to accept bonds that are worth less than what they were owed but that are secured against real estate and other assets.

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Companies are expected to report a fall in profits, but some analysts see brighter times ahead.

The yield curve has been suggesting since last year that the economy was headed for a slump.

The Consumer Price Index climbed far more slowly in June, a relief for shoppers and a hopeful — though inconclusive — sign that America might pull off a “soft landing.”

Federal Reserve officials are still expected to raise interest rates in July after a solid jobs report showed continued wage growth.

The Federal Reserve is watching to see how much the economy is slowing as it tries to wrangle inflation. Fresh data offered hopeful hints.

As companies begin to report earnings and make forecasts, investors are looking for signs of resilience, while executives are playing cautious.

It has been an arduous process to get the financial system to stop relying on the tarnished interest-rate benchmark.

Reports that the White House may clamp down on sales of semiconductors that power artificial intelligence capabilities sent tech stocks diving.

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A price from a bank in Russia suggested that the currency had weakened further after markets closed for the weekend.

Investors this week appeared more cautious, ending a long streak of market gains after the Fed also erred on the side of caution last week.

Jerome H. Powell, the chair of the Federal Reserve, told House lawmakers that most central bank officials expect rates to rise further.

The stock market is on its longest winning streak since 2021. Some investors see trouble ahead.

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The S&P 500 has climbed more than 20 percent from a 2022 low, a marker of a new phase of exuberance in the markets.

The government has avoided default, but the effects of the debt-ceiling brinkmanship may still ripple across the economy.

The S&P 500 ended the day nearly 20 percent above its low last year, within a hair of a milestone for some market watchers. But assessing a bona fide bull market is not so simple.

Employers added 339,000 workers in May, the Labor Department said, though the report also offered signs of shakiness.

The final vote on Thursday night came after leaders put down a revolt by some senators who raised concerns that the debt-limit package would under-fund the Pentagon.

Corporate profits have been bolstered by higher prices even as some of the costs of doing business have fallen in recent months.