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Perth Now
22-06-2025
- Business
- Perth Now
S&P 500, Nasdaq end down, investors eye Mideast
The S&P 500 and Nasdaq have ended lower, with investors on edge over the Iran-Israel conflict heading into the weekend, as the US considers whether to get involved. Trading was choppy for much of the session on Friday. Iran's Foreign Minister Abbas Araqchi said Tehran backed continued discussions with Germany, France, Britain and the EU and would be prepared to meet again soon following talks in Geneva. The White House said on Thursday that President Donald Trump will decide in the next two weeks whether the US will get involved in the Israel-Iran air war, adding pressure on Tehran to negotiate. "Investors are a little bit nervous about buying stocks right in front of this situation and, more specifically, right in front of this weekend," said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey. Israel's attacks have been aimed at suppressing Tehran's ability to build nuclear weapons. According to preliminary data, the S&P 500 lost 12.53 points, or 0.21 per cent, to end at 5,968.34 points, while the Nasdaq Composite lost 95.27 points, or 0.49 per cent, to 19,451.01. The Dow Jones Industrial Average rose 38.47 points, or 0.09 per cent, to 42,210.13. Investors weighed comments from Federal Reserve officials after the Fed on Wednesday left interest rates unchanged and Fed Chair Jerome Powell warned inflation could pick up pace over the summer. Fed Governor Christopher Waller said he felt the inflation risk from tariffs was small, and that the Fed should cut rates as soon as its next meeting. Richmond Fed President Tom Barkin took a more tempered view, saying there was no urgency to cut rates. Tech-related megacap stocks, including Nvidia, were among the biggest negatives on the S&P 500 and Nasdaq. Kroger shares jumped after the grocery chain increased its annual sales growth forecast. Shares of Accenture fell after the IT services provider said new bookings decreased in the third quarter.
West Australian
22-06-2025
- Business
- West Australian
S&P 500, Nasdaq end down, investors eye Mideast
The S&P 500 and Nasdaq have ended lower, with investors on edge over the Iran-Israel conflict heading into the weekend, as the US considers whether to get involved. Trading was choppy for much of the session on Friday. Iran's Foreign Minister Abbas Araqchi said Tehran backed continued discussions with Germany, France, Britain and the EU and would be prepared to meet again soon following talks in Geneva. The White House said on Thursday that President Donald Trump will decide in the next two weeks whether the US will get involved in the Israel-Iran air war, adding pressure on Tehran to negotiate. "Investors are a little bit nervous about buying stocks right in front of this situation and, more specifically, right in front of this weekend," said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey. Israel's attacks have been aimed at suppressing Tehran's ability to build nuclear weapons. According to preliminary data, the S&P 500 lost 12.53 points, or 0.21 per cent, to end at 5,968.34 points, while the Nasdaq Composite lost 95.27 points, or 0.49 per cent, to 19,451.01. The Dow Jones Industrial Average rose 38.47 points, or 0.09 per cent, to 42,210.13. Investors weighed comments from Federal Reserve officials after the Fed on Wednesday left interest rates unchanged and Fed Chair Jerome Powell warned inflation could pick up pace over the summer. Fed Governor Christopher Waller said he felt the inflation risk from tariffs was small, and that the Fed should cut rates as soon as its next meeting. Richmond Fed President Tom Barkin took a more tempered view, saying there was no urgency to cut rates. Tech-related megacap stocks, including Nvidia, were among the biggest negatives on the S&P 500 and Nasdaq. Kroger shares jumped after the grocery chain increased its annual sales growth forecast. Shares of Accenture fell after the IT services provider said new bookings decreased in the third quarter.
International Business Times
21-06-2025
- Business
- International Business Times
Wall Street Shows Mixed Signals as S&P 500 Down 0.21%, Dow Gains 38 Points as Middle East Tensions Escalate
U.S. stock markets finished Friday with mixed results as traders continued to grapple with new geopolitical uncertainty in the Middle East and further cycles in oil and currency markets. The Dow Jones Industrial Average added 38.47 points, or 0.1%, to end at 42,210.13. The S&P 500, on the other hand, slipped 0.21%, while the Nasdaq Composite sank more deeply by 0.49%. Investor sentiment took on a cautious tone as President Donald Trump postponed taking military action in the wake of recent flare-ups in the Israel-Iran conflict. Markets began the day on a positive note, but worries about what could unfold over the weekend contributed to choppy trades and late-session declines. Energy prices also signaled the market's unease. Brent crude dropped 2.3 percent to $77.01 a barrel, but it was still up 3.6 percent for the week. U.S. crude futures settled at $74.93, down 0.28%, but still up 2.7% for the week, despite a holiday-thinned session on Thursday. "People are holding back from major moves ahead of the weekend. There's still a lot of risk tied to how the situation unfolds," said Rick Meckler of Cherry Lane Investments. Diplomatic Moves and Geopolitical Risks: The United States forged ahead with targeted sanctions on enterprises tied to Iran's defense industry, a diplomatic strategy from the White House. But analysts warn that with Israel and Iran continuing to trade hostilities, any miscalculation would see the crisis ratchet higher and put vital oil infrastructure at risk. "There's always a chance of an unintended spark in these kinds of conflicts," said John Evans, an analyst at PVM Oil Associates. European officials called on Tehran to resume negotiations over its nuclear ambitions after a high-level meeting in Geneva ended without progress. European stock markets closed slightly higher, buoyed by optimism from earlier Asian trading sessions. The MSCI World Index was down slightly by 0.01%, while gains in Hong Kong and Seoul helped balance out losses in the other Asian markets. Fed Talk Spotlights Policy The Gap: Federal Reserve officials spoke publicly for the first time since comments by the Fed's chair, Jerome H. Powell, on Wednesday, indicating that the central bank is likely to cut interest rates this year. But he cautioned that inflation, particularly from Trump's trade tariffs, is a risk. A divide among policymakers is also now visible. Governor Christopher Waller insisted to open the door to a rate cut as soon as the next meeting, and Richmond Fed President Tom Barkin countered that there's no rush to move. Powell, for his part, warned against putting too much stock in forecasts in such a dynamic environment. Waller's dovish take sent bond markets into motion. The yield on the benchmark 10-year Treasuries fell 2 basis points to 4.375%. Strong safe-haven demand, which has been soaring in recent weeks because of global tensions, was another factor contributing to the fall. Currency and Commodity Price Movements The dollar was stronger, reaching a three-week high against the yen. A gauge of the dollar against major currencies inched 0.03% higher on the day and 0.6% for the week. The euro was 0.3% firmer at $1.1528. Gold prices were down 0.13% at $3,365.91, set for a weekly decline despite some strength earlier in the week as a safe haven asset.
Economic Times
21-06-2025
- Business
- Economic Times
S&P 500, Nasdaq finish lower; investors uneasy about Middle East conflict
The S&P 500 and Nasdaq ended lower on Friday, with investors on edge over the Iran-Israel conflict heading into the weekend, as the U.S. considers whether to get involved. ADVERTISEMENT Trading was choppy for much of the session. The S&P 500 also ended lower for the week, while the Nasdaq registered a weekly gain. Iran said it would not discuss the future of its nuclear program while under attack by Israel, as Europe tried to coax Tehran back into negotiations. The White House said on Thursday that President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran air war, adding pressure on Tehran to negotiate. "Investors are a little bit nervous about buying stocks right in front of this situation and, more specifically, right in front of this weekend," said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey. Israel's attacks have been aimed at suppressing Tehran's ability to build nuclear weapons. A week into its campaign, Israel said it had hit dozens of military targets. ADVERTISEMENT Tech-related megacap stocks, including Nvidia, were among the biggest negatives on the S&P 500 and Nasdaq. The Dow Jones Industrial Average rose 35.16 points, or 0.08%, to 42,206.82, the S&P 500 lost 13.03 points, or 0.22%, to 5,967.84 and the Nasdaq Composite lost 98.86 points, or 0.51%, to 19,447.41. ADVERTISEMENT For the week, the Dow was little changed, the S&P 500 was down 0.2% and the Nasdaq was up 0.2%. Friday's volume was higher than the recent average. The day marked a "triple-witching" event, which is the simultaneous expiration of stock options, stock index futures, and stock index options contracts that takes place once every quarter. ADVERTISEMENT U.S. exchanges' volume was 20.91 billion shares, compared with the 18.06 billion average for the full session over the last 20 trading days. Investors also weighed comments from Federal Reserve officials after the Fed on Wednesday left interest rates unchanged and Fed Chair Jerome Powell warned inflation could pick up pace over the summer as Trump's tariffs work their way to consumers. ADVERTISEMENT Fed Governor Christopher Waller said he felt the inflation risk from tariffs was small, and that the Fed should cut rates as soon as its next meeting. Richmond Fed President Tom Barkin took a more tempered view, saying there was no urgency to cut rates. Kroger shares jumped 9.8% after the grocery chain increased its annual sales growth forecast. Shares of Accenture fell 6.9% after the IT services provider said new bookings decreased in the third quarter. Declining issues outnumbered advancers by a 1.1-to-1 ratio on the NYSE. There were 102 new highs and 59 new lows on the NYSE. On the Nasdaq, 1,894 stocks rose and 2,651 fell as declining issues outnumbered advancers by a 1.4-to-1 ratio. (Additional reporting by Kanchana Chakravarty and Sukriti Gupta in Bengaluru; Editing by Devika Syamnath and Rod Nickel) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
21-06-2025
- Business
- Time of India
Wall Street choppy, oil dips as US holds back from Mideast military action
Major Wall Street indexes closed lower on Friday while oil prices fell after U.S. President Donald Trump held back from immediate military action in the Israel-Iran conflict. All eyes remained trained on the Middle East one week after an initial Israeli assault drew Iranian retaliation. The U.S. imposed Iran-related sanctions a day after Trump said he might take two weeks to decide on further action. According to preliminary data, the S&P 500 lost 0.21%, while the Nasdaq Composite shed 0.49%. The Dow Jones Industrial Average, however, rose 38.47 points, or 0.09%, to 42,210.13. Stocks had been broadly positive at the open, and dipped in and out of negative territory during the session. Global benchmark Brent crude futures fell 2.3% to settle at $77.01 a barrel, but gained 3.6% in the week. Front-month U.S. crude - which did not settle on Thursday due to a U.S. holiday and expires on Friday - ended down 0.28% at $74.93, with a weekly gain of 2.7%. Live Events "Investors are a little bit nervous about buying stocks right in front of this situation and, more specifically, right in front of this weekend," said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey. The new sanctions target entities, individuals and vessels providing Iran with defence machinery, and were seen as a sign of a diplomatic approach from the Trump administration. "However, while Israel and Iran carry on pounding away at each other, there can always be an unintended action that escalates the conflict and touches upon oil infrastructure," PVM analyst John Evans said. European foreign ministers urged Iran to engage with the U.S. over its nuclear programme after high-level talks in Geneva about a potential new nuclear deal ended with little sign of progress. Europe's main bourses had ended their session a touch higher, following similar gains across Asia. MSCI's gauge of stocks across the globe fell 0.01% on the day. Gains on Hong Kong's Hang Seng, and South Korea's Kospi linked to newly elected President Lee Jae Myung's stimulus, had boosted Asian shares during that session. FED SPLIT Federal Reserve policymakers made their first public comments since Chair Jerome Powell said on Wednesday that borrowing costs were likely to fall this year, but that he expects "meaningful" inflation ahead as Trump's tariffs raise prices for consumers. The close split between governors on how to manage the risks was in full view as Governor Christopher Waller said the central bank should consider cutting as soon as the next meeting, while the Richmond Fed's Tom Barkin said there was no urgency to cut. Powell had also cautioned on Wednesday against holding on too strongly to the forecasts. Treasury yields fell after Waller's comments, and as concerns about the Middle East conflict supported demand for safe haven bonds. The yield on benchmark 10-year notes fell 2 basis points to 4.375%, from 4.395% late on Wednesday. Demand rose for the U.S. dollar, pushing the greenback to a three-week high against the yen. The dollar rose 0.03% against a basket of currencies including the yen and the euro, with the euro up 0.3% at $1.1528. The index is poised to rise 0.6% this week. Prices for gold, another traditional refuge, fell 0.13% to $3,365.91 and were poised for a weekly loss.
