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Business Recorder
5 hours ago
- Business
- Business Recorder
European stocks hit one-week highs on Mideast ceasefire
FRANKFURT: European stocks soared on Tuesday, buoyed by a ceasefire between Israel and Iran, while a slump in oil prices dragged energy stocks lower. The pan-European STOXX 600 index rose 1.11%, hitting a one-week high during the session and notching its biggest single-day jump in over a month. While most sectors basked in the rally, energy stocks lagged as oil prices tumbled 5%. The sharp drop came after Iran's token response signalled no imminent threat to the critical Strait of Hormuz shipping route. Airlines and travel stocks soared, with the sector vaulting 4.3% - its biggest daily rise in more than 18 months - as hopes rose that the ceasefire would stick. The optimism followed US President Donald Trump's late-Monday announcement that Israel and Iran had agreed to halt hostilities, a deal he confirmed was 'in effect', pressing both sides to honour the truce. Iran's President Masoud Pezeshkian echoed that sentiment, vowing Tehran would stick to the deal unless provoked by Israel. 'There is political will and a desire for peace from all parties... If they can follow through, I think we will see a permanent ceasefire and we have to believe it can happen,' said Nick Saunders, CEO of stock trading platform Webull UK. Germany's DAX surged 1.6%, riding a dual wave of ceasefire relief and fresh economic stimulus after lawmakers approved record-setting investment plans for 2025 and 2026 to jump-start growth in Europe's economic powerhouse. Other bourses also gained, with French and Spanish markets up more than 1% each, while Britain's was flat. As the quarter winds down, the STOXX 600 is on track for a second straight quarterly gain, though the index is still set to close the month more than 1% lower. With Middle East tensions easing, investor focus is shifting to the looming July 8 US tariff-pause deadline, as the EU hustles to clinch trade deals with Washington. Progress has been slow, save for an agreement with London. 'As Middle East tensions de-escalate, the focus will return to more fundamental concerns for investors such as tariffs,' said Chris Brigati, chief investment officer at SWBC. Among other stocks, Carnival Corp jumped 11.8% after the cruise operator raised its annual profit forecast.
Business Insider
9 hours ago
- Business
- Business Insider
Tech stocks power Nasdaq 100 to a record high as markets celebrate the Israel-Iran ceasefire
Markets are cheering the ceasefire between Israel and Iran, even as Trump voices concern. The news is good enough for investors, who have spent the last week fretting over the conflict. The tech-heavy Nasdaq 100 closed at a record high. Investors welcomed Trump's announcement on Monday evening that Israel and Iran had agreed to a ceasefire, and then stayed upbeat throughout Tuesday, even as the president fired off a series of posts on Tuesday urging Israel to stick to the agreement he brokered. Traders also weighed comments from Fed Chair Jerome Powell that spurred optimism around interest-rate cuts. "If it turns out that inflation pressures do remain contained, then we will get to a place where we cut rates, sooner rather than later," Powell told lawmakers when asked about lowering rates in July, although he stopped short of providing a specific timeline. The result was a fresh record in the tech-heavy Nasdaq 100, and an Samp;P 500 that finished the trading day just 0.8% shy of all-time highs. Here's where major indexes stood at the 4 p.m. ET market close on Tuesday: Samp;P 500: 6,092.22, up 1.1% Dow Jones Industrial Average: 43,089.02, up 1.2% (507 points) Nasdaq 100: 22,190.52, up 1.5% Investors have been fretting for more than a week over the economic implications if tensions in the Middle East were to escalate. But for now, the cease-fire appears to have lifted their spirits. "So, with the immediate geopolitical tensions dialed down, investors are free to focus on President Trump's trade war and the first tariff deadline coming up in a couple of weeks," David Morrison, a senior market analyst at Trade Nation, wrote in a note on Tuesday, adding that he believed stocks were still in a bull market. "As far as investors are concerned, they've just stared down the prospect of World War Three, so they're not going to be fussed by a few percentage points on US imports," he added of tariff risks. "This de-escalation is leading investors to be more comfortable engaging in risk-on trades in the equity market. Even if there is further escalation, it appears that Iran has limited abilities to retaliate, which is strengthening expectations that this conflict will calm down," Chris Brigati, the chief investment officer at SWBC, said in a statement. Oil prices, which spiked as tensions in the Middle East escalated, dropped sharply from their recent highs. Brent crude, which spiked 14% amid the 12-day conflict, traded as much as 7% lower on Tuesday, to around $67 a barrel. West Texas Intermediate crude, which rose more than 10% over the same period, also fell 7% at intraday lows, below levels the day the Israel-Iran conflict started. The declines are signs that oil markets are no longer fretting over possible supply disruptions in the Middle East, according to Alex Kuptsikevich, the chief market analyst at FXPro. "Retreating to levels seen before the latest conflict, the price recouped the 'war premium,'" Kuptsikevich wrote in a note on Tuesday. Here are other important moves in the market: Investors, though, are still on watch for signs that conflict could re-escalate in the coming days. "Markets breathed a sigh of relief following Trump's ceasefire declaration, but the celebration could be short-lived. If tensions flare again or the ceasefire is violated, we could see a swift return to risk aversion — boosting safe havens like gold and pressuring global equities," Lukman Otunuga, a senior market analyst at FXTM, wrote in a note.
Business Insider
13 hours ago
- Business
- Business Insider
Trump is on edge about the Israel-Iran ceasefire, but markets are celebrating
President Donald Trump appears to still be on edge from the conflict that unfolded between Israel and Iran over the last several weeks, but the market appears eager to resume its rally toward record highs. Trump said Israel and Iran had agreed to a ceasefire on his Truth Social account Monday evening — news that was welcomed by investors, even as the president fired off a series of posts on Tuesday urging Israel to stick to the agreement he brokered. Still, after confronting the prospect of a much wider regional conflict, investors seemed ready to celebrate a win for the market. Here's where major indexes stood at 11:45 a.m. ET on Tuesday: S&P 500: 6,084.14, up 0.98% Dow Jones Industrial Average: 43,008.17, up 1% (+426.39 points) Nasdaq 100: 19,905.52, up 1.4% Investors have been fretting for more than a week over the economic implications if tensions in the Middle East were to escalate. But for now, the cease-fire appears to have lifted their spirits, according to David Morrison, a senior market analyst at Trade Nation. "So, with the immediate geopolitical tensions dialled down, investors are free to focus on President Trump's trade war and the first tariff deadline coming up in a couple of weeks," Morrison wrote in a note on Tuesday, adding that he believed stocks were still in a bull market. "As far as investors are concerned, they've just stared down the prospect of World War Three, so they're not going to be fussed by a few percentage points on US imports," he added of tariff risks. "This de-escalation is leading investors to be more comfortable engaging in risk-on trades in the equity market. Even if there is further escalation, it appears that Iran has limited abilities to retaliate, which is strengthening expectations that this conflict will calm down," Chris Brigati, the chief investment officer at SWBC, said in a statement. Oil prices, which spiked as tensions in the Middle East escalated, dropped sharply from their recent highs. Brent crude, which spiked as much as 14% amid the 12-day conflict, traded 4% lower on Tuesday at around $65 a barrel. West Texas Intermediate crude, which spiked as much as 10% over the same period, also fell 4% to trade around $65 a barrel, below levels on the day the conflict started. The declines are signs that oil markets are no longer fretting over possible supply disruptions in the Middle East, according to Alex Kuptsikevich, the chief market analyst at FXPro. "Retreating to levels seen before the latest conflict, the price recouped the 'war premium,'" Kuptsikevich wrote in a note on Tuesday. Here are other important moves in the market: The US Dollar Index: 97.90 (-0.53%) Bitcoin: 105,662.80 (+0.21%) Gold: 3,319.60 (-2.22%) Investors, though, are still on watch for signs that conflict could re-escalate in the coming days. "Markets breathed a sigh of relief following Trump's ceasefire declaration, but the celebration could be short-lived. If tensions flare again or the ceasefire is violated, we could see a swift return to risk aversion — boosting safe havens like gold and pressuring global equities," Lukman Otunuga, a senior market analyst at FXTM, wrote in a note. "In our downside scenario, we assume ceasefire negotiations break down and Iran attempts to disrupt trade with mines and attacks on shipping," researchers at Oxford Economics wrote in a note.
Business Insider
14 hours ago
- Business
- Business Insider
Trump is on edge about the Israel-Iran cease-fire, but markets are celebrating
Markets are cheering the cease-fire between Israel and Iran, even as Trump voices concern. The news is good enough for investors, who have spent the last week fretting over the conflict. But markets are on watch for signs that tensions could re-escalate, analysts say. President Donald Trump appears to still be on edge from the conflict that unfolded between Israel and Iran over the last several weeks, but the market appears eager to resume its rally toward record highs. Trump said Israel and Iran had agreed to a cease-fire on his Truth Social account Monday evening — news that was welcomed by investors, even as the president fired off a series of posts on Tuesday urging Israel to stick to the agreement he brokered. Still, after confronting the prospect of a much wider regional conflict, investors seemed ready to celebrate a win for the market. Here's where major indexes stood at 11:45 a.m. ET on Tuesday: S&P 500: 6,084.14, up 0.98% Dow Jones Industrial Average: 43,008.17, up 1% (+426.39 points) Nasdaq 100: 19,905.52, up 1.4% Investors have been fretting for more than a week over the economic implications if tensions in the Middle East were to escalate. But for now, the cease-fire appears to have lifted their spirits, according to David Morrison, a senior market analyst at Trade Nation. "So, with the immediate geopolitical tensions dialled down, investors are free to focus on President Trump's trade war and the first tariff deadline coming up in a couple of weeks," Morrison wrote in a note on Tuesday, adding that he believed stocks were still in a bull market. "This de-escalation is leading investors to be more comfortable engaging in risk-on trades in the equity market. Even if there is further escalation, it appears that Iran has limited abilities to retaliate, which is strengthening expectations that this conflict will calm down" Chirs Brigati, the chief investment officer at SWBC, said in a statement. "As far as investors are concerned, they've just stared down the prospect of World War Three, so they're not going to be fussed by a few percentage points on US imports," he added of tariff risks. Oil prices, which spiked as tensions in the Middle East escalated, dropped sharply from their recent highs. Brent crude, which spiked as much as 14% amid the 12-day conflict, traded 4% lower on Tuesday at around $65 a barrel. West Texas Intermediate crude, which spiked as much as 10% over the same period, also fell 4% to trade around $65 a barrel, below levels on the day the conflict started. The declines are signs that oil markets are no longer fretting over possible supply disruptions in the Middle East, according to Alex Kuptsikevich, the chief market analyst at FXPro. "Retreating to levels seen before the latest conflict, the price recouped the 'war premium,'" Kuptsikevich wrote in a note on Tuesday. Here are other important moves in the market: The US Dollar Index: 97.90 (-0.53%) Bitcoin: 105,662.80 (+0.21%) Gold: 3,319.60 (-2.22%) Investors, though, are still on watch for signs that conflict could re-escalate in the coming days. "Markets breathed a sigh of relief following Trump's ceasefire declaration, but the celebration could be short-lived. If tensions flare again or the ceasefire is violated, we could see a swift return to risk aversion — boosting safe havens like gold and pressuring global equities," Lukman Otunuga, a senior market analyst at FXTM, wrote in a note. "In our downside scenario, we assume ceasefire negotiations break down and Iran attempts to disrupt trade with mines and attacks on shipping," researchers at Oxford Economics wrote in a note.
Business Wire
7 days ago
- Business
- Business Wire
SWIVEL® Announces Integration of Magic-Wrighter's LoanPay Xpress Into SWIVEL's Payments Platform
SAN ANTONIO--(BUSINESS WIRE)--Following its acquisition of Magic-Wrighter, Inc., SWBC's SWIVEL Transactions, LLC, a leading fintech company specializing in integrated solutions, today announced the upcoming transition to fully integrate Magic-Wrighter's LoanPay Xpress (LPX) into SWIVEL's award-winning payments platform, bringing improved performance and a streamlined experience to better serve consumers' needs. 'For our existing Magic-Wrighter clients, we are excited to provide them with access to the full range of benefits that SWIVEL provides, as well as SWIVEL's extensive resources and proven industry expertise.' Users of Magic-Writer's LoanPay Xpress (LPX) and New Account Funding platforms will be upgraded to the SWIVEL Platform. With the transition to SWIVEL, those clients gain additional feature functionality, including Apple Pay, access to AutoPilot®, upgraded experiences through SWIVEL Pay, access to SWIVEL's integration suite, and more. SWIVEL's cohesive, mobile-friendly, browser-based platform helps clients centralize management of their various payments portfolios with easy access to invoicing, settlement reporting, returned transactions, chargebacks, and robust reporting capabilities. For K-12 clients, SWIVEL will continue to provide its all-in-one solution, e~Funds for Schools. 'For our existing Magic-Wrighter clients, we are excited to provide them with access to the full range of benefits that SWIVEL provides, as well as SWIVEL's extensive resources and proven industry expertise,' said Amanda Crocker, President of SWIVEL. 'While the product name may be changing for some, rest assured that the platform reliability and commitment to service that they have come to expect will not.' A recognized paytech leader, SWIVEL helps financial institutions, K-12 education institutions, and the companies that support them, optimize and simplify their transaction processes so they can focus on what they do best. SWIVEL is consistently recognized within the industry, including being named a 2024 PayTech Awards USA winner in the category of "Top Innovation in Payments – Solutions for Banks & FIs,' a finalist in the category for 'Tech of the Future," and a 2024 Finovate Awards finalist for 'Best Enterprise Payments Solution.' About SWIVEL SWIVEL®, an SWBC company, offers an integrated platform that simplifies the use of Apple Pay ®, Debit, Credit, and ACH for payments. The platform serves over 2,000 clients, including financial institutions, K-12 education institutions, and the software companies that support them. SWIVEL integrates with existing systems to manage payments, streamline operations, and provide user engagement tools. With tailored risk management controls for each transaction, SWIVEL helps businesses maintain compliance and improve payment processes. The company is a wholly owned subsidiary of SWBC, headquartered in San Antonio, Texas. Find more information at Apple Pay ® is a registered trademark.
