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Stocks edge up as Aussie hike provides rates reminder

June 5, 2023

World shares edged higher on Tuesday as investors mulled whether a recent rally in stocks has legs to run further, while Treasury yields drifted higher as traders pared bets that U.S. rate cuts are on the horizon given sticky price pressures.

Wall Street, where the S&P 500 touched a near 10-month high on Monday, was in the black. The S&P 500 index rose 0.1%, the Dow Jones Industrial Average was little changed, and the Nasdaq Composite Index climbed 0.25%.