“No pain, no gain” is the expression that might be used to frame the direction of the stock market. Record highs for U.S.

Mike Wilson, Morgan Stanley’s chief U.S. equity strategist, said that last week’s soft payroll figures reinforce his view that the U.S. economy is transitioning from a “rolling recession” toward a ...

The Thornburg International Equity Fund produced a total return of 10.84% for the 3-month period ended June 30, 2025, underperforming its MSCI ACWI-ex U.S. benchmark.

The dollar edged higher, recovering only slightly from declines on Thursday when data showed further evidence that the labor market was cooling and inflation remained elevated.