Stock Market Today: Dow Drops; Oil Prices Surge After Israel Attacks Iran — Live Updates
Oil prices jumped and stock futures dropped after Israel attacked Iranian nuclear sites and military leaders, and Tehran retaliated with drone strikes.
Stocks around the world fell early Friday, while the dollar strengthened somewhat after Thursday's decline. Gold futures rose around 1%, reflecting a rush into haven assets.
In the U.S., the University of Michigan's preliminary consumer survey for June is due at 10 a.m. ET. The final May reading showed Americans were gloomy about the economy, with the index near its lowest-ever level, and consumers braced for a surge in inflation.
However, sentiment picked up later in the month after the White House announced the trade truce with China, which was restored this week after further tensions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Times
30 minutes ago
- New York Times
Here Are Some of the Southern California Immigration Raids From the Past Week
Tension has been growing for months over the Trump administration's aggressive efforts to deport people who remain in the United States illegally. But the situation escalated in Los Angeles about a week ago. After protesters converged on immigration raids and demonstrated against U.S. Immigrations and Customs Enforcement officials, President Trump deployed 2,000 California National Guard troops to the city. While the focus has turned to ensuing protests in downtown Los Angeles and the heavy military response — the call-up has since increased to 4,000 National Guard members and 700 Marines — ICE agents have continued immigration raids each day in Southern California. It is difficult to have a comprehensive picture of the ICE efforts because the agency does not issue a list of people who have been detained each day nor the locations where they were taken from, and authorities did not confirm the number of raids they conducted in California this week. But residents, immigrant rights groups and elected leaders have cobbled together accounts of ICE workplace raids that they describe as indiscriminate attempts to find anyone who might be undocumented. Want all of The Times? Subscribe.
CBS News
30 minutes ago
- CBS News
Bay Area high school graduate accepted to 24 colleges, including some of the best in the country
As we celebrate our Bay Area high school graduates, a Vista Oaks Charter School high school graduate was accepted to 24 colleges and universities and was awarded $1 million worth of scholarships. Keion Rothschild has achieved what many of us can only dream of. He got accepted into some of the best universities in the country, including UC Berkeley, UCLA and USC. Rothschild still can't believe it. "Wow, I'm really able to do that," Rothschild said. "It really puts it into perspective what you can do when you put your mind to it." Rothschild gave a speech at his high school graduation ceremony, encouraging his peers to make a positive impact on our world. "I just want to remind you all that you are powerful, you are resilient, you are capable of achieving incredible things," Rothschild said. "Let's go into this world with our heads held high. Let's make a difference and honor the legacy of those who came before us." Graduating with a 4.0 GPA with honors, Rothschild was awarded $1 million worth of scholarships from colleges and universities across the country. "Like I said, 'It's all in God's plan,'" said Rothschild to his mom. "I'm ecstatic for my son and I say this so often; I am just blessed to be his mom," Onó Rothschild said. Rothschild is a role model to his six siblings and a leader in his school and community. He's an ambassador for the youth empowerment nonprofit Youth Utilizing Power and Praise based in Santa Clara County. "When he first started with his coach in public speaking, which at that time was my husband, Theophilus Booker, Keion was so shy," said Shelene Huey-Booker, YUPP founder and executive director. "He's probably gonna get mad that I say this, but I'm gonna say it anyway, cause that's what aunties do. He would just cry. It was just too much for him to now seeing him speaking at his graduation. It's just phenomenal and it's such a blessing to be able to witness it." "A lot of people feel like they're alone and I had my own experience with that," Rothschild said. "But when you see that played out in front of you and you know how many people are actually there for you. It changes your whole perspective on everything." With the big decision of choosing from 24 colleges and universities, Rothschild eventually chose the University of Oregon, which awarded him a full-ride scholarship in their honors program. Now, Rothschild is looking to the future. "My next step is getting into college and graduating and then I want to earn a whole bunch of money and buy my family anything they want," said Rothschild. "I want to buy my mom a house, a big, beautiful mansion. Everything she wants. My auntie, you guys met earlier. I want to buy her a house, my grandma a house. Just buy everybody a house really." Rothschild's strength, resilience and humility are qualities that will carry him through life. "I wouldn't say it's about me per se," said Rothschild. "I think it's all the grace of God." No matter what lies ahead, his future is bright. Rothschild plans to major in English and become a screenwriter.
Yahoo
31 minutes ago
- Yahoo
Momentum stocks that helped drive the market's epic recovery are stalling. Get ready for a ‘buyable' pullback.
After helping to power the U.S. stock market's historic recovery from April's tariff-induced selloff, many of the momentum names popular with individual investors are showing signs of exhaustion. That means investors should approach with caution over the coming weeks. Because another opportunity to buy the dip might lie ahead, according to Jonathan Krinsky, a technical analyst at BTIG. My husband is in hospice care. Friends say his children are lining up for his money. What can I do? These defense stocks offer the best growth prospects, as the Israel-Iran conflict fuels new interest in the sector Walmart's stock looks like it's in trouble. What the chart says may come next. Why bonds aren't acting like a safe haven for investors amid the Israel-Iran conflict My mother-in-law thought the world's richest man needed Apple gift cards. How on Earth could she fall for this scam? 'While it's still too early to say we are getting a more widespread pullback, we are starting to see some early cracks in certain high-beta momentum names today, with many leadership stocks working on potential downside reversals,' Krinsky said in commentary shared with MarketWatch on Thursday. As Krinsky pointed out, Goldman Sachs Group's long-only basket of high-beta momentum stocks appears to have stalled out just shy of its year-to-date peak from February. He identified seven momentum stocks that look particularly vulnerable: GE Aerospace GE, Robinhood Markets Inc., HOOD Lemonade Inc. LMND, Netflix Inc. NFLX, Tesla Inc. TSLA, Twilio Inc. TWLO and Upstart Holdings Inc. UPST. To be sure, only three of these stocks — GE, Tesla and Netflix — are components of the S&P 500. Even if they encounter some near-term turbulence, all of those stocks remain in strong uptrends, Krinsky said. That means any pullbacks would likely prove to be another 'buyable' opportunity. 'To be clear, most of these are in strong primary uptrends, so pullbacks are ultimately buyable,' Krinsky said. 'Tactically, however, we would be cautious of many of these names over the next couple of weeks, especially heading into quarter-end, when big rebalances often take place.' Since skittering to the brink of bear-market territory in early April after President Donald Trump unveiled his 'liberation day' tariff plans, the S&P 500 SPX has staged what could ultimately prove to be its fastest-ever recovery back toward record highs, according to Dow Jones Market Data. The speed of the move has taken many on Wall Street by surprise. By the time Trump announced a 90-day pause on many of the tariffs on April 9, the index had fallen by 18.9% from its February record high to its closing low on April 8. Since then, all seven of the momentum stocks cited by Krinsky have tallied huge gains, with Robinhood up more than 115%, while Lemonade has gained nearly 70%. Even Netflix, the worst performer in the group, has risen by roughly 40%, FactSet data showed. The S&P 500, meanwhile, has risen by 21.3%. Data from several Wall Street banks show retail investors helped power the market's recovery in April, while their professional peers remained much more cautious. The index was still about 1.7 percentage points shy of its Feb. 19 record as of Thursday's close, although it tallied its highest finish since Feb. 20, according to Dow Jones data. U.S. stocks finished higher on Thursday, with the S&P 500, Nasdaq Composite COMP and Dow Jones Industrial Average DJIA all closing in the green. 'He failed in his fiduciary duty': My brother liquidated our mother's 401(k) for her nursing home. He claimed the rest. Gundlach says gold is no longer for lunatics as the bond king says wait to buy the 30-year 'I am getting very frustrated': My mother's adviser has not returned my calls. He manages $1 million. Is this normal? I'm in my 80s and have 2 kids. How do I choose between them to be my executor? 'It might be another Apple or Microsoft': My wife invested $100K in one stock and it exploded 1,500%. Do we sell?
