On Wall Street, CarMax tumbled 22.3% after the seller of used autos reported a weaker profit for the latest quarter than analysts expected. It sold fewer vehicles during the quarter than it had a year earlier. It also was hurt because it increased its expectations for losses from loans made in earlier years.

Wall Street is feeling bullish on areas like cyclical stocks, industrials, and small-caps as the Fed resumes its rate-cutting cycle.

Stock bulls looking for the next hot Wall Street trade are increasingly turning to the busiest corner of the US market this year — initial public offerings.

Stocks got a lift after a report on inflation raised hopes that the Federal Reserve will be able to continue cutting interest rates.

The stock market is shrugging off worries about a weakening labor market and stubborn inflation, instead embracing a much-anticipated interest rate cut.

First came the digital-asset treasuries — public companies that raised equity, bought crypto and watched their stock prices soar. It was a kind of financial alchemy: tap the stock market to buy tokens,