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International Business Times
9 hours ago
- Business
- International Business Times
Wall Street Shows Mixed Signals as S&P 500 Down 0.21%, Dow Gains 38 Points as Middle East Tensions Escalate
U.S. stock markets finished Friday with mixed results as traders continued to grapple with new geopolitical uncertainty in the Middle East and further cycles in oil and currency markets. The Dow Jones Industrial Average added 38.47 points, or 0.1%, to end at 42,210.13. The S&P 500, on the other hand, slipped 0.21%, while the Nasdaq Composite sank more deeply by 0.49%. Investor sentiment took on a cautious tone as President Donald Trump postponed taking military action in the wake of recent flare-ups in the Israel-Iran conflict. Markets began the day on a positive note, but worries about what could unfold over the weekend contributed to choppy trades and late-session declines. Energy prices also signaled the market's unease. Brent crude dropped 2.3 percent to $77.01 a barrel, but it was still up 3.6 percent for the week. U.S. crude futures settled at $74.93, down 0.28%, but still up 2.7% for the week, despite a holiday-thinned session on Thursday. "People are holding back from major moves ahead of the weekend. There's still a lot of risk tied to how the situation unfolds," said Rick Meckler of Cherry Lane Investments. Diplomatic Moves and Geopolitical Risks: The United States forged ahead with targeted sanctions on enterprises tied to Iran's defense industry, a diplomatic strategy from the White House. But analysts warn that with Israel and Iran continuing to trade hostilities, any miscalculation would see the crisis ratchet higher and put vital oil infrastructure at risk. "There's always a chance of an unintended spark in these kinds of conflicts," said John Evans, an analyst at PVM Oil Associates. European officials called on Tehran to resume negotiations over its nuclear ambitions after a high-level meeting in Geneva ended without progress. European stock markets closed slightly higher, buoyed by optimism from earlier Asian trading sessions. The MSCI World Index was down slightly by 0.01%, while gains in Hong Kong and Seoul helped balance out losses in the other Asian markets. Fed Talk Spotlights Policy The Gap: Federal Reserve officials spoke publicly for the first time since comments by the Fed's chair, Jerome H. Powell, on Wednesday, indicating that the central bank is likely to cut interest rates this year. But he cautioned that inflation, particularly from Trump's trade tariffs, is a risk. A divide among policymakers is also now visible. Governor Christopher Waller insisted to open the door to a rate cut as soon as the next meeting, and Richmond Fed President Tom Barkin countered that there's no rush to move. Powell, for his part, warned against putting too much stock in forecasts in such a dynamic environment. Waller's dovish take sent bond markets into motion. The yield on the benchmark 10-year Treasuries fell 2 basis points to 4.375%. Strong safe-haven demand, which has been soaring in recent weeks because of global tensions, was another factor contributing to the fall. Currency and Commodity Price Movements The dollar was stronger, reaching a three-week high against the yen. A gauge of the dollar against major currencies inched 0.03% higher on the day and 0.6% for the week. The euro was 0.3% firmer at $1.1528. Gold prices were down 0.13% at $3,365.91, set for a weekly decline despite some strength earlier in the week as a safe haven asset.
Time of India
14 hours ago
- Business
- Time of India
S&P 500, Nasdaq finish lower; investors uneasy about Middle East conflict
The S&P 500 and Nasdaq ended lower on Friday, with investors on edge over the Iran-Israel conflict heading into the weekend, as the U.S. considers whether to get involved. Trading was choppy for much of the session. The S&P 500 also ended lower for the week, while the Nasdaq registered a weekly gain. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 23.7% Returns in last 5 years with Shriram Life's ULIP Shriram Life Insurance Undo Iran said it would not discuss the future of its nuclear program while under attack by Israel, as Europe tried to coax Tehran back into negotiations. The White House said on Thursday that President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran air war, adding pressure on Tehran to negotiate. "Investors are a little bit nervous about buying stocks right in front of this situation and, more specifically, right in front of this weekend," said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey. Live Events Israel's attacks have been aimed at suppressing Tehran's ability to build nuclear weapons. A week into its campaign, Israel said it had hit dozens of military targets. Tech-related megacap stocks, including Nvidia, were among the biggest negatives on the S&P 500 and Nasdaq. The Dow Jones Industrial Average rose 35.16 points, or 0.08%, to 42,206.82, the S&P 500 lost 13.03 points, or 0.22%, to 5,967.84 and the Nasdaq Composite lost 98.86 points, or 0.51%, to 19,447.41. For the week, the Dow was little changed, the S&P 500 was down 0.2% and the Nasdaq was up 0.2%. Friday's volume was higher than the recent average. The day marked a "triple-witching" event, which is the simultaneous expiration of stock options, stock index futures, and stock index options contracts that takes place once every quarter. U.S. exchanges' volume was 20.91 billion shares, compared with the 18.06 billion average for the full session over the last 20 trading days. Investors also weighed comments from Federal Reserve officials after the Fed on Wednesday left interest rates unchanged and Fed Chair Jerome Powell warned inflation could pick up pace over the summer as Trump's tariffs work their way to consumers. Fed Governor Christopher Waller said he felt the inflation risk from tariffs was small, and that the Fed should cut rates as soon as its next meeting. Richmond Fed President Tom Barkin took a more tempered view, saying there was no urgency to cut rates. Kroger shares jumped 9.8% after the grocery chain increased its annual sales growth forecast. Shares of Accenture fell 6.9% after the IT services provider said new bookings decreased in the third quarter. Declining issues outnumbered advancers by a 1.1-to-1 ratio on the NYSE. There were 102 new highs and 59 new lows on the NYSE. On the Nasdaq, 1,894 stocks rose and 2,651 fell as declining issues outnumbered advancers by a 1.4-to-1 ratio. (Additional reporting by Kanchana Chakravarty and Sukriti Gupta in Bengaluru; Editing by Devika Syamnath and Rod Nickel)
Economic Times
14 hours ago
- Business
- Economic Times
S&P 500, Nasdaq finish lower; investors uneasy about Middle East conflict
The S&P 500 and Nasdaq ended lower on Friday, with investors on edge over the Iran-Israel conflict heading into the weekend, as the U.S. considers whether to get involved. ADVERTISEMENT Trading was choppy for much of the session. The S&P 500 also ended lower for the week, while the Nasdaq registered a weekly gain. Iran said it would not discuss the future of its nuclear program while under attack by Israel, as Europe tried to coax Tehran back into negotiations. The White House said on Thursday that President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran air war, adding pressure on Tehran to negotiate. "Investors are a little bit nervous about buying stocks right in front of this situation and, more specifically, right in front of this weekend," said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey. Israel's attacks have been aimed at suppressing Tehran's ability to build nuclear weapons. A week into its campaign, Israel said it had hit dozens of military targets. ADVERTISEMENT Tech-related megacap stocks, including Nvidia, were among the biggest negatives on the S&P 500 and Nasdaq. The Dow Jones Industrial Average rose 35.16 points, or 0.08%, to 42,206.82, the S&P 500 lost 13.03 points, or 0.22%, to 5,967.84 and the Nasdaq Composite lost 98.86 points, or 0.51%, to 19,447.41. ADVERTISEMENT For the week, the Dow was little changed, the S&P 500 was down 0.2% and the Nasdaq was up 0.2%. Friday's volume was higher than the recent average. The day marked a "triple-witching" event, which is the simultaneous expiration of stock options, stock index futures, and stock index options contracts that takes place once every quarter. ADVERTISEMENT U.S. exchanges' volume was 20.91 billion shares, compared with the 18.06 billion average for the full session over the last 20 trading days. Investors also weighed comments from Federal Reserve officials after the Fed on Wednesday left interest rates unchanged and Fed Chair Jerome Powell warned inflation could pick up pace over the summer as Trump's tariffs work their way to consumers. ADVERTISEMENT Fed Governor Christopher Waller said he felt the inflation risk from tariffs was small, and that the Fed should cut rates as soon as its next meeting. Richmond Fed President Tom Barkin took a more tempered view, saying there was no urgency to cut rates. Kroger shares jumped 9.8% after the grocery chain increased its annual sales growth forecast. Shares of Accenture fell 6.9% after the IT services provider said new bookings decreased in the third quarter. Declining issues outnumbered advancers by a 1.1-to-1 ratio on the NYSE. There were 102 new highs and 59 new lows on the NYSE. On the Nasdaq, 1,894 stocks rose and 2,651 fell as declining issues outnumbered advancers by a 1.4-to-1 ratio. (Additional reporting by Kanchana Chakravarty and Sukriti Gupta in Bengaluru; Editing by Devika Syamnath and Rod Nickel) (You can now subscribe to our ETMarkets WhatsApp channel)
New Straits Times
21-05-2025
- Business
- New Straits Times
Stocks dip, treasury yields gain, investors weigh US fiscal concerns
NEW YORK: Major stock indexes eased while longer-dated US Treasury yields inched higher, with investors focused on US fiscal concerns as Congress debated a bill for sweeping tax cuts. The S&P 500 snapped a six-day streak of gains. US President Donald Trump pushed his fellow Republicans in Congress to unite behind the bill, but struggled to convince a handful of holdouts on the package, which would extend the 2017 tax cuts from his first term, among other things. Investors worry that the bill will lead to the US budget deficit growing at a faster pace than previously expected. Moody's Investors Service downgraded the US credit rating late on Friday, fanning concerns about the country's debt load. "With the Republican bill still up in the air, there's just enough uncertainty to lead people to be a little bit more cautious and use this recent rally maybe to trim a little bit of their (stock) portfolio," said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey. The Dow Jones Industrial Average fell 114.83 points, or 0.27 per cent, to 42,677.24. The S&P 500 dropped 23.14 points, or 0.39 per cent, to 5,940.46 and the Nasdaq Composite slid 72.75 points, or 0.38 per cent, to 19,142.71. Investors are also reassessing the recent rally and considering the potential fallout from the shifts in US tariff policy, Meckler said. Home Depot shares ended down 0.6 per cent, although the home improvement retailer beat Wall Street estimates for first-quarter sales. MSCI's gauge of stocks across the globe fell 0.77 points, or 0.09 per cent, to 881.62. European stocks closed near nine-week highs, with utilities and telecom firms leading gains. The pan-European STOXX 600 index rose 0.73 per cent. Longer-dated US Treasury yields edged higher amid the US fiscal concerns. The benchmark US 10-year note yield rose 0.2 basis points to 4.477 per cent. The 30-year bond yield gained 2.3 basis points at 4.965 per cent. On Monday, it touched 5.037 per cent in intraday trading, the highest since November 2023. In a sign of broader market nervousness, Japanese super-long government bond yields soared to all-time highs on Tuesday, precipitated by a poor auction of 20-year securities. The Japanese 20-year yield jumped as much as 15 bps to 2.555 per cent, its highest since 2000, and the 30-year yield hit a record high of 3.14 per cent. The dollar declined again, weighed down in part by more cautious remarks about the economy by Federal Reserve officials. Among them, St. Louis Federal Reserve Bank President Alberto Musalem said despite the recent easing in US-China trade tensions, the labor market looks likely to weaken and prices will head higher. Traders expect at least two 25-basis-point rate cuts from the Fed by the end of 2025. The dollar fell against the yen to a roughly two-week low of 144.095 yen, before trading down 0.2 per cent at 144.495 yen, sliding in five of the last six sessions. The Aussie dollar was last down 0.6 per cent at US$0.6416 after the Reserve Bank of Australia cut benchmark interest rates by 25 basis points and left the door open to further easing in the months ahead. In Canada, the annual inflation rate eased to 1.7 per cent in April, above economists' expectations for a 1.6 per cent gain. Oil prices were little changed amid uncertainty in US-Iran negotiations and Russia-Ukraine peace talks. Brent futures slid 16 cents, or 0.2 per cent, to settle at US$65.38 a barrel, while US West Texas Intermediate (WTI) crude eased 13 cents, or 0.2 per cent, to settle at US$62.56. Gold prices rose more than one per cent as the dollar weakened further. Spot gold rose 1.86 per cent to US$3,288.96 an ounce.
