Asia markets are significantly lower with Japan hovering near 33-year highs

US stocks are not the only ones that have risen this year.

Some global indices followed those gains and climbed.

Analysts remain optimistic about some parts of the US market, but some expect international markets to perform better this year.

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The resulting stock has Buy ratings from more than 65% of the analysts who cover it, and an average price target for upside of at least 30%.

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– Wizen tan

Stocks closed lower on Friday, with the S&P 500 posting its best week since March.

The 30-share Dow Jones Industrial Average fell 108.94 points, or 0.3 percent, to close at 34,299.12. The heavy Nasdaq Composite fell 0.7% to end the session at 13,689.57, while the S&P 500 fell 0.4%, closing at 4,409.59. Friday’s fall for the S&P 500 and Nasdaq Composite broke their six-session winning streak.

Consumer inflation expectations eased in June, providing support for the Federal Reserve in its battle against rising prices.

A closely conducted University of Michigan survey of consumers showed the one-year forecast fell to 3.3%, down from 4.2% the previous month. This is the lowest level since March 2021.

The poll’s headline reading came in at 63.9, better than the Dow Jones estimate of 60.2 and up from 59.2 in May.

– Jeff Cox

Richmond Federal Reserve Chairman Thomas Barkin said Friday that he would be fine with raising interest rates if inflation did not continue to fall.

“I want to reiterate that 2% inflation is our target, and that I still look to buy into the plausible story that slowing demand returns inflation relatively quickly back to that target. If the upcoming data doesn’t support that story, I’m in,” Barkin said in prepared remarks for a speech at Maryland “I feel comfortable doing more.”

“I realize this creates the risk of a more significant slowdown, but the experience of the 1970s provides a clear lesson: If you back off inflation too soon, inflation comes back stronger, requiring the Fed to do more, with more damage,” he added. “This is not a risk I want to take.”

Barkin is a non-voting member this year of the Federal Open Market Committee, which sets interest rates.

– Jeff Cox

Federal Reserve Governor Christopher Waller pledged on Friday that the central bank will not back down from its efforts to bring down inflation.

“The Fed’s mission is to use monetary policy to fulfill its dual mandate, and for the time being that means raising interest rates to fight inflation,” Waller said in prepared remarks for a speech in Oslo, Norway.

In addressing the banking crisis in March, he rejected the notion that the Fed’s rate hike was one of the reasons.

He said, “It is the job of bank leaders to deal with interest rate risk, and all bank leaders have done just that. I am not in favor of changing the stance of monetary policy over ineffective management concerns in a few banks.”

– Jeff Cox

US Treasury yields rose on Friday as investors looked at the future path of interest rates and looked to comments from Federal Reserve officials for details on raising interest rates again. In the guidance issued along with the central bank’s decision to keep interest rates unchanged earlier this week, it indicated that rates could continue to rise this year.

At 4:16 a.m. ET, the 10-year Treasury was trading more than 2 basis points at 3.7516%. The yield on the two-year Treasury note increased by more than four basis points, to 4.6948%.

– Sophie Kiderlin