Wall St edges up,Trump's Mideast decision in focus
Wall Street's main indexes have nudged higher, tracking strength in global stocks after President Donald Trump held off from making an immediate decision on US involvement in the Israel-Iran war.
Trump will take a call in the next two weeks, the White House said on Thursday, as hostilities between the two Middle Eastern countries approached their second week.
Markets have been on edge as Trump has kept the world guessing on his plans - veering from proposing a swift diplomatic solution to suggesting the US might join the fight as Israel aims to suppress Tehran's ability to build nuclear weapons.
A senior Iranian official told Reuters Tehran was ready to discuss limitations on its uranium enrichment, but zero enrichment will be rejected "especially now under Israel's strikes". Foreign Minister Abbas Araqchi has arrived in Geneva to meet European counterparts, who are hoping to establish a path back to diplomacy.
"Any news flow that's going to lean in the direction of de-escalation is going to be a market positive and we're seeing that to a certain extent here," said Art Hogan, chief market strategist at B. Riley Wealth.
Concerns about price pressures in the US were also in focus after Federal Reserve policymakers on Wednesday warned inflation could pick up pace over the summer as the economic effects of Trump's steep import tariffs kick in. They kept interest rates unchanged.
On Friday, Fed governor Chris Waller said the central bank should consider cutting interest rates at its next meeting given recent tame inflation data and because any price shock from tariffs will be short-lived.
In early trading on Friday, the Dow Jones Industrial Average rose 123.38 points, or 0.29 per cent, to 42,295.04, the S&P 500 gained 13.34 points, or 0.22 per cent, to 5,994.21 and the Nasdaq Composite gained 38.74 points, or 0.20 per cent, to 19,585.01.
Nine of the 11 major S&P 500 sub-sectors rose. Real estate led sector gains with a 0.7 per cent rise. On the flip side, healthcare stocks lost 0.5 per cent.
All three main indexes are set for weekly gains.
Investors are also bracing for any potential spike in volatility from Friday's "triple witching" - the simultaneous expiration of single stock options, stock index futures, and stock index options contracts that happens once a quarter.
Among megacap stocks, Apple advanced 1.3 per cent.
Kroger rose 6.4 per cent after the grocery chain increased its annual identical sales forecast.
Mondelez International gained 2.4 per cent after brokerage Wells Fargo upgraded the Cadbury parent to "overweight" from "equal-weight".
Accenture fell 7.2 per cent after the IT services provider said new bookings decreased in the third quarter.
Wall Street's strong gains last month, primarily driven by a softening in Trump's trade stance and strength in corporate earnings, had pushed the benchmark S&P 500 index close to its record peaks before the ongoing conflict in the Middle East made investors risk-averse.
The S&P 500 index now remains 2.4 per cent below its record level, and the tech-heavy Nasdaq is 2.8 per cent lower.
Advancing issues outnumbered decliners by a 2.16-to-1 ratio on the NYSE and by a 1.45-to-1 ratio on the Nasdaq. The S&P 500 posted 12 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 55 new highs and 31 new lows.
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West Australian
18 minutes ago
- West Australian
Friends united by concern for family in Iran and Israel
Conflict in the Middle East is thousands of kilometres away from the desks of Saina Salemi and her colleague Oscar, but the pair constantly discuss blasts and evacuation warnings. Ms Salemi hasn't spoken to her family in Iran for more than three days due to a nation-wide internet blackout, while Oscar - who asked that his surname not be used - has no idea when he'll next see his parents who are trapped in Israel. "My helplessness would have been made worse had someone like Oscar not been here. There's only so many people in your life that can truly understand a situation like this," Ms Salemi told AAP. Israel and Iran have been trading strikes since the Israeli military began its attack a week ago in a bid to wipe out Iran's nuclear program, but geopolitical tensions are not dividing the two friends from Melbourne. "Despite what these countries are putting each other through, the fact that it hasn't got between us even for a millisecond, I feel very touched," Oscar said. The pair are consumed by worry for their families and appalled by the scale of human suffering in countries they remember fondly from holidays. "I said to Ocar, I feel like I'm going crazy, because everybody around me is moving so normally and is going about their day-to-day lives, and I'm just watching a 24/7 live blog all the time," Ms Salemi said. "The Iranian diaspora, we are really tired of people being used as collateral damage." She's angry her family in Tehran have no bomb shelter to go to and worried about what could happen to her elderly grandparents after Donald Trump warned some 10 million people in Iran's capital to evacuate. The president said he will make a decision about whether the US joins the conflict within two weeks, demanding Iran's unconditional surrender. However, Iran has warned of "all-out war" if the US joins the conflict. "I texted my cousin last night telling him I loved him and there's a great numbness that comes with feeling like you're saying 'I love you' to someone for the last time," Ms Salemi said. "I'm yet to hear back from that text message." More than 2000 Australians have registered for assistance to leave Iran and more than 1200 have registered to leave Israel, with Australian military personnel and aircraft being deployed to help. Oscar's parents have barely left their bomb shelter since the conflict flared and he doesn't know how they'll come home, after receiving a warning they may not be safe at Jordan's land border crossing. "I really feel for my parents, I feel for everyone in Tehran, in Gaza, in Tel Aviv," Oscar said. "None of them deserve it, it's exhausting." He's grateful to have grown up in Australia where he and Ms Salemi can lean on each other for support. "I do think that there's something really special about this country where you can have this kind of friendship," he said. "I hope most Australians don't have to understand what it's like having family in these kinds of circumstances." Israeli strikes on Iran have killed at least 639 people and wounded more than 1300 others, according to a Washington-based Iranian human rights group. Israel says Iran's retaliatory strikes killed at least 24 people and wounded hundreds.
Perth Now
30 minutes ago
- Perth Now
Friends united by concern for family in Iran and Israel
Conflict in the Middle East is thousands of kilometres away from the desks of Saina Salemi and her colleague Oscar, but the pair constantly discuss blasts and evacuation warnings. Ms Salemi hasn't spoken to her family in Iran for more than three days due to a nation-wide internet blackout, while Oscar - who asked that his surname not be used - has no idea when he'll next see his parents who are trapped in Israel. "My helplessness would have been made worse had someone like Oscar not been here. There's only so many people in your life that can truly understand a situation like this," Ms Salemi told AAP. Israel and Iran have been trading strikes since the Israeli military began its attack a week ago in a bid to wipe out Iran's nuclear program, but geopolitical tensions are not dividing the two friends from Melbourne. "Despite what these countries are putting each other through, the fact that it hasn't got between us even for a millisecond, I feel very touched," Oscar said. The pair are consumed by worry for their families and appalled by the scale of human suffering in countries they remember fondly from holidays. "I said to Ocar, I feel like I'm going crazy, because everybody around me is moving so normally and is going about their day-to-day lives, and I'm just watching a 24/7 live blog all the time," Ms Salemi said. "The Iranian diaspora, we are really tired of people being used as collateral damage." She's angry her family in Tehran have no bomb shelter to go to and worried about what could happen to her elderly grandparents after Donald Trump warned some 10 million people in Iran's capital to evacuate. The president said he will make a decision about whether the US joins the conflict within two weeks, demanding Iran's unconditional surrender. However, Iran has warned of "all-out war" if the US joins the conflict. "I texted my cousin last night telling him I loved him and there's a great numbness that comes with feeling like you're saying 'I love you' to someone for the last time," Ms Salemi said. "I'm yet to hear back from that text message." More than 2000 Australians have registered for assistance to leave Iran and more than 1200 have registered to leave Israel, with Australian military personnel and aircraft being deployed to help. Oscar's parents have barely left their bomb shelter since the conflict flared and he doesn't know how they'll come home, after receiving a warning they may not be safe at Jordan's land border crossing. "I really feel for my parents, I feel for everyone in Tehran, in Gaza, in Tel Aviv," Oscar said. "None of them deserve it, it's exhausting." He's grateful to have grown up in Australia where he and Ms Salemi can lean on each other for support. "I do think that there's something really special about this country where you can have this kind of friendship," he said. "I hope most Australians don't have to understand what it's like having family in these kinds of circumstances." Israeli strikes on Iran have killed at least 639 people and wounded more than 1300 others, according to a Washington-based Iranian human rights group. Israel says Iran's retaliatory strikes killed at least 24 people and wounded hundreds.
The Advertiser
an hour ago
- The Advertiser
Wall St edges up,Trump's Mideast decision in focus
Wall Street's main indexes have nudged higher, tracking strength in global stocks after President Donald Trump held off from making an immediate decision on US involvement in the Israel-Iran war. Trump will take a call in the next two weeks, the White House said on Thursday, as hostilities between the two Middle Eastern countries approached their second week. Markets have been on edge as Trump has kept the world guessing on his plans - veering from proposing a swift diplomatic solution to suggesting the US might join the fight as Israel aims to suppress Tehran's ability to build nuclear weapons. A senior Iranian official told Reuters Tehran was ready to discuss limitations on its uranium enrichment, but zero enrichment will be rejected "especially now under Israel's strikes". Foreign Minister Abbas Araqchi has arrived in Geneva to meet European counterparts, who are hoping to establish a path back to diplomacy. "Any news flow that's going to lean in the direction of de-escalation is going to be a market positive and we're seeing that to a certain extent here," said Art Hogan, chief market strategist at B. Riley Wealth. Concerns about price pressures in the US were also in focus after Federal Reserve policymakers on Wednesday warned inflation could pick up pace over the summer as the economic effects of Trump's steep import tariffs kick in. They kept interest rates unchanged. On Friday, Fed governor Chris Waller said the central bank should consider cutting interest rates at its next meeting given recent tame inflation data and because any price shock from tariffs will be short-lived. In early trading on Friday, the Dow Jones Industrial Average rose 123.38 points, or 0.29 per cent, to 42,295.04, the S&P 500 gained 13.34 points, or 0.22 per cent, to 5,994.21 and the Nasdaq Composite gained 38.74 points, or 0.20 per cent, to 19,585.01. Nine of the 11 major S&P 500 sub-sectors rose. Real estate led sector gains with a 0.7 per cent rise. On the flip side, healthcare stocks lost 0.5 per cent. All three main indexes are set for weekly gains. Investors are also bracing for any potential spike in volatility from Friday's "triple witching" - the simultaneous expiration of single stock options, stock index futures, and stock index options contracts that happens once a quarter. Among megacap stocks, Apple advanced 1.3 per cent. Kroger rose 6.4 per cent after the grocery chain increased its annual identical sales forecast. Mondelez International gained 2.4 per cent after brokerage Wells Fargo upgraded the Cadbury parent to "overweight" from "equal-weight". Accenture fell 7.2 per cent after the IT services provider said new bookings decreased in the third quarter. Wall Street's strong gains last month, primarily driven by a softening in Trump's trade stance and strength in corporate earnings, had pushed the benchmark S&P 500 index close to its record peaks before the ongoing conflict in the Middle East made investors risk-averse. The S&P 500 index now remains 2.4 per cent below its record level, and the tech-heavy Nasdaq is 2.8 per cent lower. Advancing issues outnumbered decliners by a 2.16-to-1 ratio on the NYSE and by a 1.45-to-1 ratio on the Nasdaq. The S&P 500 posted 12 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 55 new highs and 31 new lows. Wall Street's main indexes have nudged higher, tracking strength in global stocks after President Donald Trump held off from making an immediate decision on US involvement in the Israel-Iran war. Trump will take a call in the next two weeks, the White House said on Thursday, as hostilities between the two Middle Eastern countries approached their second week. Markets have been on edge as Trump has kept the world guessing on his plans - veering from proposing a swift diplomatic solution to suggesting the US might join the fight as Israel aims to suppress Tehran's ability to build nuclear weapons. A senior Iranian official told Reuters Tehran was ready to discuss limitations on its uranium enrichment, but zero enrichment will be rejected "especially now under Israel's strikes". Foreign Minister Abbas Araqchi has arrived in Geneva to meet European counterparts, who are hoping to establish a path back to diplomacy. "Any news flow that's going to lean in the direction of de-escalation is going to be a market positive and we're seeing that to a certain extent here," said Art Hogan, chief market strategist at B. Riley Wealth. Concerns about price pressures in the US were also in focus after Federal Reserve policymakers on Wednesday warned inflation could pick up pace over the summer as the economic effects of Trump's steep import tariffs kick in. They kept interest rates unchanged. On Friday, Fed governor Chris Waller said the central bank should consider cutting interest rates at its next meeting given recent tame inflation data and because any price shock from tariffs will be short-lived. In early trading on Friday, the Dow Jones Industrial Average rose 123.38 points, or 0.29 per cent, to 42,295.04, the S&P 500 gained 13.34 points, or 0.22 per cent, to 5,994.21 and the Nasdaq Composite gained 38.74 points, or 0.20 per cent, to 19,585.01. Nine of the 11 major S&P 500 sub-sectors rose. Real estate led sector gains with a 0.7 per cent rise. On the flip side, healthcare stocks lost 0.5 per cent. All three main indexes are set for weekly gains. Investors are also bracing for any potential spike in volatility from Friday's "triple witching" - the simultaneous expiration of single stock options, stock index futures, and stock index options contracts that happens once a quarter. Among megacap stocks, Apple advanced 1.3 per cent. Kroger rose 6.4 per cent after the grocery chain increased its annual identical sales forecast. Mondelez International gained 2.4 per cent after brokerage Wells Fargo upgraded the Cadbury parent to "overweight" from "equal-weight". Accenture fell 7.2 per cent after the IT services provider said new bookings decreased in the third quarter. Wall Street's strong gains last month, primarily driven by a softening in Trump's trade stance and strength in corporate earnings, had pushed the benchmark S&P 500 index close to its record peaks before the ongoing conflict in the Middle East made investors risk-averse. The S&P 500 index now remains 2.4 per cent below its record level, and the tech-heavy Nasdaq is 2.8 per cent lower. Advancing issues outnumbered decliners by a 2.16-to-1 ratio on the NYSE and by a 1.45-to-1 ratio on the Nasdaq. The S&P 500 posted 12 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 55 new highs and 31 new lows. Wall Street's main indexes have nudged higher, tracking strength in global stocks after President Donald Trump held off from making an immediate decision on US involvement in the Israel-Iran war. Trump will take a call in the next two weeks, the White House said on Thursday, as hostilities between the two Middle Eastern countries approached their second week. Markets have been on edge as Trump has kept the world guessing on his plans - veering from proposing a swift diplomatic solution to suggesting the US might join the fight as Israel aims to suppress Tehran's ability to build nuclear weapons. A senior Iranian official told Reuters Tehran was ready to discuss limitations on its uranium enrichment, but zero enrichment will be rejected "especially now under Israel's strikes". Foreign Minister Abbas Araqchi has arrived in Geneva to meet European counterparts, who are hoping to establish a path back to diplomacy. "Any news flow that's going to lean in the direction of de-escalation is going to be a market positive and we're seeing that to a certain extent here," said Art Hogan, chief market strategist at B. Riley Wealth. Concerns about price pressures in the US were also in focus after Federal Reserve policymakers on Wednesday warned inflation could pick up pace over the summer as the economic effects of Trump's steep import tariffs kick in. They kept interest rates unchanged. On Friday, Fed governor Chris Waller said the central bank should consider cutting interest rates at its next meeting given recent tame inflation data and because any price shock from tariffs will be short-lived. In early trading on Friday, the Dow Jones Industrial Average rose 123.38 points, or 0.29 per cent, to 42,295.04, the S&P 500 gained 13.34 points, or 0.22 per cent, to 5,994.21 and the Nasdaq Composite gained 38.74 points, or 0.20 per cent, to 19,585.01. Nine of the 11 major S&P 500 sub-sectors rose. Real estate led sector gains with a 0.7 per cent rise. On the flip side, healthcare stocks lost 0.5 per cent. All three main indexes are set for weekly gains. Investors are also bracing for any potential spike in volatility from Friday's "triple witching" - the simultaneous expiration of single stock options, stock index futures, and stock index options contracts that happens once a quarter. Among megacap stocks, Apple advanced 1.3 per cent. Kroger rose 6.4 per cent after the grocery chain increased its annual identical sales forecast. Mondelez International gained 2.4 per cent after brokerage Wells Fargo upgraded the Cadbury parent to "overweight" from "equal-weight". Accenture fell 7.2 per cent after the IT services provider said new bookings decreased in the third quarter. Wall Street's strong gains last month, primarily driven by a softening in Trump's trade stance and strength in corporate earnings, had pushed the benchmark S&P 500 index close to its record peaks before the ongoing conflict in the Middle East made investors risk-averse. The S&P 500 index now remains 2.4 per cent below its record level, and the tech-heavy Nasdaq is 2.8 per cent lower. Advancing issues outnumbered decliners by a 2.16-to-1 ratio on the NYSE and by a 1.45-to-1 ratio on the Nasdaq. The S&P 500 posted 12 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 55 new highs and 31 new lows. Wall Street's main indexes have nudged higher, tracking strength in global stocks after President Donald Trump held off from making an immediate decision on US involvement in the Israel-Iran war. Trump will take a call in the next two weeks, the White House said on Thursday, as hostilities between the two Middle Eastern countries approached their second week. Markets have been on edge as Trump has kept the world guessing on his plans - veering from proposing a swift diplomatic solution to suggesting the US might join the fight as Israel aims to suppress Tehran's ability to build nuclear weapons. A senior Iranian official told Reuters Tehran was ready to discuss limitations on its uranium enrichment, but zero enrichment will be rejected "especially now under Israel's strikes". Foreign Minister Abbas Araqchi has arrived in Geneva to meet European counterparts, who are hoping to establish a path back to diplomacy. "Any news flow that's going to lean in the direction of de-escalation is going to be a market positive and we're seeing that to a certain extent here," said Art Hogan, chief market strategist at B. Riley Wealth. Concerns about price pressures in the US were also in focus after Federal Reserve policymakers on Wednesday warned inflation could pick up pace over the summer as the economic effects of Trump's steep import tariffs kick in. They kept interest rates unchanged. On Friday, Fed governor Chris Waller said the central bank should consider cutting interest rates at its next meeting given recent tame inflation data and because any price shock from tariffs will be short-lived. In early trading on Friday, the Dow Jones Industrial Average rose 123.38 points, or 0.29 per cent, to 42,295.04, the S&P 500 gained 13.34 points, or 0.22 per cent, to 5,994.21 and the Nasdaq Composite gained 38.74 points, or 0.20 per cent, to 19,585.01. Nine of the 11 major S&P 500 sub-sectors rose. Real estate led sector gains with a 0.7 per cent rise. On the flip side, healthcare stocks lost 0.5 per cent. All three main indexes are set for weekly gains. Investors are also bracing for any potential spike in volatility from Friday's "triple witching" - the simultaneous expiration of single stock options, stock index futures, and stock index options contracts that happens once a quarter. Among megacap stocks, Apple advanced 1.3 per cent. Kroger rose 6.4 per cent after the grocery chain increased its annual identical sales forecast. Mondelez International gained 2.4 per cent after brokerage Wells Fargo upgraded the Cadbury parent to "overweight" from "equal-weight". Accenture fell 7.2 per cent after the IT services provider said new bookings decreased in the third quarter. Wall Street's strong gains last month, primarily driven by a softening in Trump's trade stance and strength in corporate earnings, had pushed the benchmark S&P 500 index close to its record peaks before the ongoing conflict in the Middle East made investors risk-averse. The S&P 500 index now remains 2.4 per cent below its record level, and the tech-heavy Nasdaq is 2.8 per cent lower. Advancing issues outnumbered decliners by a 2.16-to-1 ratio on the NYSE and by a 1.45-to-1 ratio on the Nasdaq. The S&P 500 posted 12 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 55 new highs and 31 new lows.
