Shares of technology companies rose as traders tiptoed back into risky niches.
One scenario in which risky stocks could take another big leg down is if economic growth slows under pressure from the Federal Reserve but inflation fails to follow suit, said Matt Stucky, senior portfolio manager at mutual fund firm Northwestern Mutual Wealth Management.
"Inflation reports are going to be fireworks displays whenever the come out," Mr. Stucky said.
Amazon.com agreed to add Grubhub to its suite of Prime services in the U.S., in a deal aimed at expanding the food-ordering company's reach by tapping Amazon's membership program.
Cryptocurrency broker and lender Voyager Digital filed for Chapter 11 bankruptcy protection late Tuesday, becoming the latest victim of the "contagion" from a crash in digital currency prices. Other brokers and lenders including Celsius were forced to freeze accounts, as leveraged clients failed to repay loans and asset prices dwindled.
Separately, the cryptocurrency exchange, FTX, which had provided emergency financing to Voyager, is seeking permission from regulators to let individual investors use derivatives to place leveraged bets on bitcoin, a move opposed by rivals.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-06-22 1725ET
