Latest news with #PatrickO'Hare
RTHK
11 hours ago
- 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
12 hours ago
- 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
Straits Times
13 hours ago
- Business
- Straits Times
US stocks gain as Middle East clash seen as contained so far
Traders work on the floor of the New York Stock Exchange during morning trading on June 16. PHOTO: AFP US stocks gain as Middle East clash seen as contained so far NEW YORK - Wall Street stocks rose on June 16 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. After decades of enmity and a prolonged shadow war, Israel on June 13 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 June 18 Fed decision and other US economic news, including May retail sales. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Recorder
28-05-2025
- Automotive
- Business Recorder
US stocks edge higher ahead of Nvidia results
NEW YORK: Wall Street stocks edged higher early Wednesday ahead of earnings from Nvidia that are expected to broadly affect the equity market. US stocks posted gains of around two percent or more on Tuesday following President Donald Trump's move to delay potential tariffs on the European Union. As a leader in artificial intelligence, 'Nvidia's report will be market mover, which is likely why there isn't a ton of conviction in the equity futures trade,' said analyst Patrick O'Hare. About 15 minutes into trading, the Dow Jones Industrial Average was up 0.2 percent at 42,425.79. Wall St rises more than 1pc as Trump backs down on EU tariffs The broad-based S&P 500 climbed 0.3 percent to 5,937.98, while the tech-rich Nasdaq Composite Index advanced 0.3 percent to 19,263.64. Among individual companies, Dick's Sporting Goods rose 1.8 percent as it confirmed full-year targets to grow comparable sales as much as three percent following solid quarterly results.
Business Times
20-05-2025
- Business
- Business Times
US: S&P 500 falls after six straight positive sessions
[NEW YORK] Wall Street stocks retreated on Tuesday (May 20) as markets tracked congressional debate on US President Donald Trump's tax cut proposal while monitoring US Treasury yields. Major indices spent the entire session in negative territory as the S&P 500 finished lower after six straight positive sessions. 'The main driver is a consolidation day,' said analyst Patrick O'Hare. 'The market has just been so red hot.' The Dow Jones Industrial Average finished down 0.3 per cent at 42,677.24. The broad-based S&P 500 shed 0.4 per cent to 5,940.46, while the tech-rich Nasdaq Composite Index also fell 0.4 per cent to 19,142.72. Trump visited Capitol Hill on Tuesday, where he faces challenges to unify a House Republican caucus that includes lawmakers from high-tax Northeastern states seeking a bigger tax deduction and members who are worried about increasing the deficit. Investors have also been fixated on higher yields in the Treasury market. Moody's highlighted the deficit last week in a downgrade of the US credit rating. Among individual companies, Tesla gained 0.4 per cent as CEO Elon Musk said the company's sales performance had improved in most markets after a difficult first quarter. Musk also expressed bullishness over the potential for autonomous driving and humanoid robotics to lift Tesla. Google parent Alphabet fell 1.5 per cent as it touted new artificial features at its annual developers event. CEO Sundar Pichai said: 'New AI mode is a total reimagining of search with more advanced reasoning'. AFP
