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CNA
8 hours ago
- Business
- CNA
Instant View: Investors react after Trump announced ceasefire between Iran and Israel
U.S. President Donald Trump said on Monday that a "complete and total" ceasefire between Israel and Iran will go into force with a view to ending the conflict between the two nations. "On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, 'THE 12 DAY WAR'," Trump wrote on his Truth Social site. U.S. crude futures fell after Trump's announcement, which came after the close of trading on Wall Street. S&P 500 e-mini futures rose slightly when trading resumed. JACK ABLIN, CHIEF INVESTMENT OFFICER, CRESSET WEALTH ADVISORS, PALM BEACH, FLORIDA "This lifts some of the geopolitical uncertainty surrounding the markets, although, for the most part, equity investors have been kind of shrugging the uncertainty off. I think it's certainly an incremental positive, but I don't think it's a catalyst for the next bull market." "It certainly sounds like a significant milestone, and I hope it it's true." JAKE DOLLARHIDE, CEO, LONGBOW ASSET MANAGEMENT, TULSA, OKLAHOMA "Part of the problem holding equities back has been higher oil prices and geopolitical risk, and a cease fire or end to the conflict would go a long way towards solving both those issues." "This may be the match that sparks a continuation of the rally we saw today."
Yahoo
8 hours ago
- Business
- Yahoo
Instant View: Investors react after Trump announced ceasefire between Iran and Israel
(Reuters) -U.S. President Donald Trump said on Monday that a "complete and total" ceasefire between Israel and Iran will go into force with a view to ending the conflict between the two nations. "On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, 'THE 12 DAY WAR'," Trump wrote on his Truth Social site. U.S. crude futures fell after Trump's announcement, which came after the close of trading on Wall Street. S&P 500 e-mini futures rose slightly when trading resumed. COMMENTS JACK ABLIN, CHIEF INVESTMENT OFFICER, CRESSET WEALTH ADVISORS, PALM BEACH, FLORIDA "This lifts some of the geopolitical uncertainty surrounding the markets, although, for the most part, equity investors have been kind of shrugging the uncertainty off. I think it's certainly an incremental positive, but I don't think it's a catalyst for the next bull market." "It certainly sounds like a significant milestone, and I hope it it's true." JAKE DOLLARHIDE, CEO, LONGBOW ASSET MANAGEMENT, TULSA, OKLAHOMA "Part of the problem holding equities back has been higher oil prices and geopolitical risk, and a cease fire or end to the conflict would go a long way towards solving both those issues." "This may be the match that sparks a continuation of the rally we saw today." (Compiled by the Global Finance & Markets Breaking News team) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
West Australian
01-06-2025
- Business
- West Australian
S&P 500 ends near flat but posts big monthly pct gain
The S&P 500 ended a volatile session little changed on Friday as US President Donald Trump slammed China before sounding upbeat about reaching a trade deal, but the benchmark index tallied its biggest monthly increase since November 2023. The Nasdaq also registered its biggest monthly percentage gain since November 2023. May was a choppy month for stocks as Trump's erratic trade policies kept investors on edge, but his softening tariff stance, along with upbeat earnings and tame inflation data, helped the S&P 500 rebound from its April lows. On Friday, all three major stock indexes opened lower after Trump accused China on his Truth Social platform of breaching a trade agreement with the US and issued a new veiled threat to get tougher with Beijing. But the market pared losses as Trump said on Friday afternoon he will speak to China's President Xi Jinping and hopefully work out their differences on trade and tariffs. Strategists said the constant stream of tariff news is unnerving. Investors "don't know how to react to tariff" news at this point, said Jake Dollarhide, CEO of Longbow Asset Management in Tulsa, Oklahoma. "The news cycle is maddening." The Dow Jones Industrial Average rose 54.34 points, or 0.13 per cent, to 42,270.07. The S&P 500 lost 0.48 points, or 0.01 per cent, at 5,911.69 and the Nasdaq Composite fell 62.11 points, or 0.32 per cent, to 19,113.77. The S&P 500 also finished Friday with a weekly gain that lifted it less than 4.0 per cent from its February all-time high. The benchmark index rose about 6.2 per cent in May, while the Nasdaq surged 9.6 per cent for the month. "February, March and April was one of the worst three-month periods since COVID, so we needed some gains," Dollarhide said. While the effective US tariff on imports was 2.0 per cent to 3.0 per cent before Trump took office, it stands at about 15 per cent, according to Oxford Research estimates. This would have been lowered to about 6.0 per cent by a trade court ruling, but an appeals court's emergency stay has kept the higher rate in place for now. Investors on Friday also digested data showing US consumer spending increased 2.1 per cent year-on-year in April after advancing 2.3 per cent in March. The Federal Reserve tracks the PCE price measures for its 2.0 per cent inflation target. Traders maintained bets that the US central bank would cut its target for short-term borrowing costs in September. On the earnings front, shares of Ulta Beauty jumped 11.8 per cent after the cosmetics retailer raised its annual profit forecast after beating quarterly results. Declining issues outnumbered advancers by a 1.14-to-1 ratio on the NYSE. There were 94 new highs and 62 new lows on the NYSE. On the Nasdaq, 1,849 stocks rose and 2,651 fell as declining issues outnumbered advancers by a 1.43-to-1 ratio. Volume on US exchanges was 19.34 billion shares, compared with the roughly 18 billion average for the full session over the last 20 trading days.
Perth Now
01-06-2025
- Business
- Perth Now
S&P 500 ends near flat but posts big monthly pct gain
The S&P 500 ended a volatile session little changed on Friday as US President Donald Trump slammed China before sounding upbeat about reaching a trade deal, but the benchmark index tallied its biggest monthly increase since November 2023. The Nasdaq also registered its biggest monthly percentage gain since November 2023. May was a choppy month for stocks as Trump's erratic trade policies kept investors on edge, but his softening tariff stance, along with upbeat earnings and tame inflation data, helped the S&P 500 rebound from its April lows. On Friday, all three major stock indexes opened lower after Trump accused China on his Truth Social platform of breaching a trade agreement with the US and issued a new veiled threat to get tougher with Beijing. But the market pared losses as Trump said on Friday afternoon he will speak to China's President Xi Jinping and hopefully work out their differences on trade and tariffs. Strategists said the constant stream of tariff news is unnerving. Investors "don't know how to react to tariff" news at this point, said Jake Dollarhide, CEO of Longbow Asset Management in Tulsa, Oklahoma. "The news cycle is maddening." The Dow Jones Industrial Average rose 54.34 points, or 0.13 per cent, to 42,270.07. The S&P 500 lost 0.48 points, or 0.01 per cent, at 5,911.69 and the Nasdaq Composite fell 62.11 points, or 0.32 per cent, to 19,113.77. The S&P 500 also finished Friday with a weekly gain that lifted it less than 4.0 per cent from its February all-time high. The benchmark index rose about 6.2 per cent in May, while the Nasdaq surged 9.6 per cent for the month. "February, March and April was one of the worst three-month periods since COVID, so we needed some gains," Dollarhide said. While the effective US tariff on imports was 2.0 per cent to 3.0 per cent before Trump took office, it stands at about 15 per cent, according to Oxford Research estimates. This would have been lowered to about 6.0 per cent by a trade court ruling, but an appeals court's emergency stay has kept the higher rate in place for now. Investors on Friday also digested data showing US consumer spending increased 2.1 per cent year-on-year in April after advancing 2.3 per cent in March. The Federal Reserve tracks the PCE price measures for its 2.0 per cent inflation target. Traders maintained bets that the US central bank would cut its target for short-term borrowing costs in September. On the earnings front, shares of Ulta Beauty jumped 11.8 per cent after the cosmetics retailer raised its annual profit forecast after beating quarterly results. Declining issues outnumbered advancers by a 1.14-to-1 ratio on the NYSE. There were 94 new highs and 62 new lows on the NYSE. On the Nasdaq, 1,849 stocks rose and 2,651 fell as declining issues outnumbered advancers by a 1.43-to-1 ratio. Volume on US exchanges was 19.34 billion shares, compared with the roughly 18 billion average for the full session over the last 20 trading days.
Time of India
31-05-2025
- Business
- Time of India
US Stocks: S&P 500 ends near flat but posts biggest monthly percentage gain since November 2023
ADVERTISEMENT ADVERTISEMENT ADVERTISEMENT NEW YORK - The S&P 500 ended a volatile session little changed on Friday as U.S. President Donald Trump slammed China before sounding upbeat about reaching a trade deal , but the benchmark index tallied its biggest monthly increase since November Nasdaq also registered its biggest monthly percentage gain since November was a choppy month for stocks as Trump's erratic trade policies kept investors on edge, but his softening tariff stance, along with upbeat earnings and tame inflation data, helped the S&P 500 rebound from its April Friday, all three major stock indexes opened lower after Trumpaccused China on his Truth Social platform of breaching a trade agreement with the U.S. and issued a new veiled threat to get tougher with the market pared losses as Trump said on Friday afternoon he will speak to China's President Xi Jinping and hopefully work out their differences on trade and said the constant stream of tariff news is "don't know how to react to tariff" news at this point, said Jake Dollarhide, CEO of Longbow Asset Management in Tulsa, Oklahoma. "The news cycle is maddening."The Dow Jones Industrial Average rose 54.34 points, or 0.13%, to 42,270.07. The S&P 500 lost 0.48 points, or 0.01%, at 5,911.69 and the Nasdaq Composite fell 62.11 points, or 0.32%, to 19, S&P 500 also finished Friday with a weekly gain that lifted it less than 4% from its February all-time high. The benchmark index rose about 6.2% in May, while the Nasdaq surged 9.6% for the month."February, March and April was one of the worst three-month periods since COVID, so we needed some gains," Dollarhide the effective U.S. tariff on imports was 2% to 3% before Trump took office, it stands at about 15%, according to Oxford Research estimates. This would have been lowered to about 6% by a trade court ruling, but an appeals court's emergency stay has kept the higher rate in place for on Friday also digested data showing U.S. consumer spending increased 2.1% year-on-year in April after advancing 2.3% in March. The Federal Reserve tracks the PCE price measures for its 2% inflation maintained bets that the U.S. central bank would cut its target for short-term borrowing costs in the earnings front, shares of Ulta Beauty jumped 11.8% after the cosmetics retailer raised its annual profit forecast after beating quarterly issues outnumbered advancers by a 1.14-to-1 ratio on the NYSE. There were 94 new highs and 62 new lows on the the Nasdaq, 1,849 stocks rose and 2,651 fell as declining issues outnumbered advancers by a 1.43-to-1 on U.S. exchanges was 19.34 billion shares, compared with the roughly 18 billion average for the full session over the last 20 trading days.
