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Straits Times
25-06-2025
- Business
- Straits Times
Nvidia at new record as US stocks end mixed
Traders working on the floor of the New York Stock Exchange, in New York City, on June 25. PHOTO: REUTERS Nvidia at new record as US stocks end mixed NEW YORK - Wall Street stocks finished mixed on June 25 as markets weighed lingering worries over Iran, while Nvidia surged to a fresh record amid continued artificial intelligence bullishness. President Donald Trump boasted that US strikes had destroyed Iran's nuclear programme, although leaked US intelligence said the strikes had set back Tehran's nuclear programme by just a few months. 'Maybe the US bombardment didn't destroy the Iran nuclear programme,' said Mr Jack Ablin, of Cresset Capital Management. The Dow Jones Industrial Average finished down 0.3 per cent at 42,982.43. The broad-based S&P 500 was flat at 6,092.16, while the tech-rich Nasdaq Composite Index gained 0.3 per cent to 19,973.55. The mixed session followed two strong days for equities after conditions in the Middle East stabilised on June 23 and 24, with Iran and Israel agreeing to a ceasefire. 'Investors are sort of catching their breath, since we had a very strong move on Monday and Tuesday,' said Mr Sam Stovall, chief investment officer at CFRA Research. 'I think that investors are reevaluating the US intelligence report that maybe the strike on Iran was not as successful as earlier indicated.' Mr Stovall also noted that markets are approaching new all-time highs and 'usually it takes a couple of attempts' before breaking through. But a bright spot was Nvidia, which shot up 4.3 per cent to US$154.31, giving it a market valuation of around US$3.76 trillion – more valuable than Microsoft, Apple and other tech giants. The rise came as chief executive officer Jensen Huang presented the company's latest technologies at Nvidia's annual meeting. Among other companies, FedEx fell 3.3 per cent after the shipping company did not provide a full-year forecast, citing uncertainty about the global trade outlook and tariffs. Tesla dropped 3.8 per cent after the company's car sales sank again in Europe in May, the latest poor result from Mr Elon Musk's company in the region. General Mills dropped 5.1 per cent on disappointment over the company's forecast. The food giant expects a drop of 10 to 15 per cent in operating profit. But large banks had a good day with JPMorgan Chase and Citigroup winning 1 per cent or more as the Federal Reserve proposed easing capital rule requirements. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
25-06-2025
- Business
- Business Times
US: Nvidia at new record as stocks end mixed
[NEW YORK] Wall Street stocks finished mixed on Wednesday as markets weighed lingering worries over Iran, while Nvidia surged to a fresh record amid continued artificial intelligence bullishness. President Donald Trump boasted that US strikes had destroyed Iran's nuclear program, although leaked US intelligence said the strikes had set back Tehran's nuclear programme by just a few months. 'Maybe the US bombardment didn't destroy the Iran nuclear programme,' said Jack Ablin of Cresset Capital Management. The Dow Jones Industrial Average finished down 0.3 per cent at 42,982.43. The broad-based S&P 500 was flat at 6,092.16, while the tech-rich Nasdaq Composite Index gained 0.3 per cent to 19,973.55. The mixed session followed two strong days for equities after conditions in the Middle East stabilised on Monday and Tuesday, with Iran and Israel agreeing to a ceasefire. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'Investors are sort of catching their breath, since we had a very strong move on Monday and Tuesday,' said Sam Stovall, chief investment officer at CFRA Research. 'I think that investors are reevaluating the US intelligence report that maybe the strike on Iran was not as successful as earlier indicated.' Stovall also noted that markets are approaching new all-time highs and 'usually it takes a couple of attempts' before breaking through. But a bright spot was Nvidia, which shot up 4.3 per cent to US$154.31, giving it a market valuation of around US$3.76 trillion - more valuable than Microsoft, Apple and other tech giants. The rise came as CEO Jensen Huang presented the company's latest technologies at Nvidia's annual meeting. Among other companies, FedEx fell 3.3 per cent after the shipping company did not provide a full-year forecast, citing uncertainty about the global trade outlook and tariffs. Tesla dropped 3.8 per cent after the company's car sales sank again in Europe last month, the latest poor result from Elon Musk's company in the region. General Mills dropped 5.1 per cent on disappointment over the company's forecast. The food giant expects a drop of 10 to 15 per cent in operating profit. But large banks had a good day with JPMorgan Chase and Citigroup winning one per cent or more as the Federal Reserve proposed easing capital rule requirements. AFP
RTHK
25-06-2025
- Business
- RTHK
Nvidia at new record as US stocks end mixed
Nvidia at new record as US stocks end mixed Investors on Wall Street remain anxious over the situation in the Middle East. Photo: AFP Wall Street stocks finished mixed on Wednesday as markets weighed lingering worries over Iran, while Nvidia surged to a fresh record amid continued artificial intelligence bullishness. President Donald Trump boasted that US strikes had destroyed Iran's nuclear programme, although leaked US intelligence said the strikes had set back Tehran's nuclear programme by just a few months. "Maybe the US bombardment didn't destroy the Iran nuclear programme," said Jack Ablin of Cresset Capital Management. The Dow Jones finished down 0.3 percent at 42,982. The S&P 500 was flat at 6,092, while the Nasdaq gained 0.3 percent to 19,973. The mixed session followed two strong days for equities after conditions in the Middle East stabilised on Monday and Tuesday, with Iran and Israel agreeing to a ceasefire. "Investors are sort of catching their breath, since we had a very strong move on Monday and Tuesday," said Sam Stovall, chief investment officer at CFRA Research. "I think that investors are re-evaluating the US intelligence report that maybe the strike on Iran was not as successful as earlier indicated." Stovall also noted that markets are approaching new all-time highs and "usually it takes a couple of attempts" before breaking through. But a bright spot was Nvidia, which shot up 4.3 percent to US$154.31, giving it a market valuation of around US$3.76 trillion – more valuable than Microsoft, Apple and other tech giants. The rise came as CEO Jensen Huang presented the company's latest technologies at Nvidia's annual meeting. Among other companies, FedEx fell 3.3 percent after the shipping company did not provide a full-year forecast, citing uncertainty about the global trade outlook and tariffs. Tesla dropped 3.8 percent after the company's car sales sank again in Europe last month, the latest poor result from Elon Musk's company in the region. General Mills dropped 5.1 percent on disappointment over the company's forecast. The food giant expects a drop of 10 to 15 percent in operating profit. But large banks had a good day with JPMorgan Chase and Citigroup winning one percent or more as the Federal Reserve proposed easing capital rule requirements. (AFP)
RTHK
16-06-2025
- Business
- RTHK
US stocks rise as fears ease over Mideast war
US stocks rise as fears ease over Mideast war Traders work on the floor of the New York Stock Exchange. Photo: AFP Wall Street stocks rose on Monday on hopes the Israel-Iran conflict will not spiral further, as markets began to look ahead to a Federal Reserve decision later in the week. Iran's state broadcaster was briefly knocked off air by an Israeli strike after a barrage of Iranian missiles killed 11 people in Israel on the fourth day of an escalating air war. But US stocks spent the entire session in positive territory as oil prices retreated in the absence of a direct hit to oil infrastructure, a sign analysts took as indicating that worse scenarios had not played out. The Dow Jones Industrial Average finished up 0.8 percent at 42,515. The broad-based S&P 500 climbed 0.9 percent to 6,033, while the tech-rich Nasdaq Composite Index jumped 1.5 percent to 19,701. "The primary force today is just the sense that the conflict between Israel and Iran is relatively contained so far," said analyst Patrick O'Hare. After decades of enmity and a prolonged shadow war, Israel on Friday launched a surprise aerial campaign against targets across Iran, saying they aimed to prevent its arch-foe from acquiring atomic weapons – a charge Tehran denies. While the conflict brews on, there has been no direct hit on the Straits of Hormuz, a key shipping lane, analysts said. "It hasn't really gotten worse than the bombing and it's not boiling over into other countries or other markets, like shipping," said Jack Ablin of Cresset Capital Management. A majority of the S&P 500's 11 sectors advanced. Semiconductor shares were among the strongest sectors, with AMD 8.7 percent winning, Nvidia 1.9 percent and Micron Technology 3.7 percent. United States Steel jumped 5.1 percent in the first session since President Donald Trump signed an executive order approving a "partnership" between the Pittsburgh-based company and Nippon Steel, apparently clearing the way for a transaction partially revised from an original plan for the Japanese firm to acquire the old US company. Besides the Middle East conflict, markets are watching for Wednesday's Fed decision and other US economic news, including May retail sales. (AFP)
Business Times
16-06-2025
- Business
- Business Times
US: Stocks gain as Middle East clash seen as contained so far
[NEW YORK] Wall Street stocks rose on Monday on hopes the Israel-Iran conflict will not spiral further, as markets began to look ahead to a Federal Reserve decision later in the week. Iran's state broadcaster was briefly knocked off air by an Israeli strike after a barrage of Iranian missiles killed 11 people in Israel on the fourth day of an escalating air war. But US stocks spent the entire session in positive territory as oil prices retreated in the absence of a direct hit to oil infrastructure, a sign analysts took as indicating that worse scenarios had not played out. The Dow Jones Industrial Average finished up 0.8 per cent at 42,515.09. The broad-based S&P 500 climbed 0.9 per cent to 6,033.11, while the tech-rich Nasdaq Composite Index jumped 1.5 per cent to 19,701.21. 'The primary force today is just the sense that the conflict between Israel and Iran is relatively contained so far,' said analyst Patrick O'Hare. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up After decades of enmity and a prolonged shadow war, Israel on Friday launched a surprise aerial campaign against targets across Iran, saying they aimed to prevent its arch-foe from acquiring atomic weapons - a charge Tehran denies. While the conflict brews on, there has been no direct hit on the Straits of Hormuz, a key shipping lane, analysts said. 'It hasn't really gotten worse than the bombing and it's not boiling over into other countries or other markets, like shipping,' said Jack Ablin of Cresset Capital Management. A majority of the S&P 500's 11 sectors advanced. Semiconductor shares were among the strongest sectors, with AMD 8.7 per cent winning, Nvidia 1.9 per cent and Micron Technology 3.7 per cent. United States Steel jumped 5.1 per cent in the first session since President Donald Trump signed an executive order approving a 'partnership' between the Pittsburgh-based company and Nippon Steel, apparently clearing the way for a transaction partially revised from an original plan for the Japanese firm to acquire the old US company. Besides the Middle East conflict, markets are watching for Wednesday's Fed decision and other US economic news, including May retail sales. AFP
