Vestal veteran inducted into New York State Senate Veterans Hall of Fame

(WIVT/WBGH) – The leader of a local organization that supports veterans in need is receiving a distinguished honor in Albany.
State Senator Lea Webb has inducted Retired U.S. Army Colonel Ben Margolius into the New York State Senate Veterans Hall of Fame.
The Vestal resident served in the Army from 1963 to 1991, including two combat tours in Vietnam and a recall to active duty during Operation Desert Storm. He retired as the Chief of Joint Operations for the U.S. Transportation Command.
Margolius has been an active advocate for veterans' issues and serves as president of the Southern Tier Veterans Support Group.
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Mirabito collecting donations for Folds of Honor
Vestal veteran inducted into New York State Senate Veterans Hall of Fame
'M*A*S*H' actress Loretta Swit dies at 87
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Yahoo

3 hours ago

• Yahoo

It sounds sick, but Iran hostilities may be good for stocks

It sounds sick, but Iran hostilities may be good for stocks originally appeared on TheStreet. So, President Trump ordered B-2 bombers to drop bunker-busting bombs on three Iranian nuclear facilities late Saturday. He pronounced the result "a spectacular success," with Iran's nuclear enrichment facilities "completely and totally obliterated." There will be lots of media coverage Sunday and beyond on whether the operation worked and whether the United States will be dragged into a third war in the Middle East since 1991. 💵💰💰💵 A question for investors, however, is this: How will stocks react?There are some unknowns. There's been no verification that Iran's nuclear enrichment facilities are, in fact, totally obliterated. It's not clear if Iran will try to cut a deal to stop the Israeli and U.S. bombing or opt somehow to play a long game of defending itself with missile shots at Israel and U.S. military bases in the Middle East. Nonetheless, there's a good chance Wall Street will seize on the attacks as a prime stock-buying opportunity. That's what happened in 2003's Second Gulf War when U.S.-led forces invaded Iraq and toppled the dictatorial regime of Saddam started to tumble in late January 2003 as another war against Iraq became inevitable. The Standard & Poor's 500 Index was down as much as 9% for the year on March 11. But then investors started to believe the invasion would go well, and the S&P 500 started to recover. Indeed, when Baghdad fell on April 9, 2003, the index had recovered all the early losses and was up 8.2% from the March low. And stocks never looked back. The S&P 500 finished up 26.4% in 2023. The gain from the March 2003 low to year-end: 38%. One will be able to see how investors and markets are looking at the conflict starting at 6 p.m. ET Sunday. That's when futures trading in the S&P 500, the Dow Jones industrials and the Nasdaq-100 starts. Gains like 2003 might not happen. Iran was lobbing missiles at the Israeli cities of Tel Aviv and Haifa into Sunday. And, so far, there's no hint that Iran's leadership wants a cease fire. A prolonged fight might be bad for stocks. Iran has missiles and drones to deploy. It could block off Strait of Hormuz, through which 25% of the world's crude oil is shipped. Blocking the strait would send global oil prices sharply higher and cause havoc for the global economy. in fact, oil prices already have reacted. As tensions have grown between Israel and Iran (and now the United States), crude oil has climbed 29.3% to $73.84 per 42-gallon barrel from a May 5 closing low. U.S. gasoline prices have risen, too, about 4% or so, to about $3.20 a gallon, according to companies would profit. In fact, stocks in the S&P 500's Energy Sector are up 9.2% so far in June, the best performance by any of the 11 S&P 500 sectors. Oil-and-gas producer APA Corp. () , the sector leader is up 15.8% over the last month, according to data. Exxon Mobil () has jumped 9.3%; Chevron () is has risen almost 9%. More Experts Analyst makes bold call on stocks, bonds, and gold TheStreet Stocks & Markets Podcast #8: Common Sense Investing With David Miller Veteran fund manager sends dire message on stocks Theoretically, the first-quarter earnings seasons is done, but some of the late stragglers due this week are important. These include: FedEx () , after Tuesday's close. FedEx shares have struggled, but there is hope. The delivery giant is doing business again with () , and its business overall is growing again. But shares are off nearly 20% this year because of tariff worries. Earnings are estimated to rise 8.9% from a year ago to $5.89 a share. Revenue will be off slightly at $21.8 billion. Cruise-line giant Carnival Corp. () , before Tuesday's open. Between August 2024 and Jan. 30, the shares doubled to $28.49 because bookings were beyond terrific. Then, the shares fell 49%, thanks to the Trump tariff plan and the mini-stock panic. Carnival is back to $23.77. The quarterly revenue estimate of $6.2 billion is up 7.3% from a year ago. Earnings of 24 cents a share would be up 118%. Chip maker Micron Technology () shares are up 47% this year, and Wall Street likes — no, loves — the stock, whose chips have carved out a lucrative spot in artificial intelligence. In fact, the shares are already ahead of one analyst's one-year price target. The revenue estimate is $8.8 billion, up nearly 30% from a year ago. Earnings of $1.59 a share would be up 156%. Nike () is having a challenging year. The shares are down 21% this year, third-worst among the Dow Jones industrial stocks. True, it's selling athletic wear and shoes again on but it is extremely vulnerable to the Trump tariff hikes. Barrons says Nike's factories in Vietnam, Indonesia and China manufacture 50%, 27% and 18% of all its footwear. (Yes, that adds up to 95% of production.) The Nike revenue estimate: $10.7 billion, down 15.1% from a year ago. Earnings of 12 cents would be down 88%.It sounds sick, but Iran hostilities may be good for stocks first appeared on TheStreet on Jun 22, 2025 This story was originally reported by TheStreet on Jun 22, 2025, where it first appeared. 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

Newsweek

3 hours ago

• Newsweek

Oil Prices Jump, Stocks Fall After US Strikes Iran Nuclear Sites

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Oil prices surged and U.S. stock futures declined as global markets reacted to American airstrikes on Iranian nuclear facilities, according to the Associated Press. Brent crude oil, the international standard, rose 2.6 percent to $79 per barrel, while U.S. crude climbed 2.6 percent to $75.76 per barrel. Why It Matters The U.S.'s strikes on Saturday marked its entry into the Iran-Israel conflict and were the biggest escalation in the war since Israel first ignited it by striking at Iran on June 13. Iranian lawmakers voted to support closing the Strait of Hormuz in response to the strikes, which hit three Iranian nuclear and military sites. A final decision on the matter rests with Iranian Supreme Leader Ayatollah Ali Khamenei. Nearly 20 percent of global oil trade passes through the Strait or Hormuz, a narrow but highly strategic waterway connecting the Persian Gulf to the Gulf of Oman and the Arabian Sea. At its narrowest point, the strait is about 21 miles wide, with two shipping lanes that are 2 miles wide in each direction. Any closure of the channel is likely to result in a global spike in oil prices. What To Know There was some market uncertainty on Sunday evening, with futures for the S&P 500 and Dow Jones Industrial Average slipping 0.3 percent, while Nasdaq futures fell 0.5 percent. Treasury yields remained little changed. The modest moves suggest markets are taking the latest developments in stride, though analysts expect continued volatility as the situation develops. Iran's strategic position controlling the Strait of Hormuz gives the country significant leverage over global energy markets. However, any Iranian retaliation that includes closing the waterway would likely be difficult to execute. Traders remain concerned that Iran could severely disrupt transit through the strait, potentially sending insurance rates spiking and making shippers nervous to move cargo without U.S. Navy escorts. Complicating Iran's decision is the country's own dependence on the waterway. Iran uses the strait to transport its own crude oil, mostly to China, and oil represents a major revenue source for the regime, creating economic incentives against closure. What People Are Saying President Donald Trump wrote on Truth Social on Saturday evening: "ANY RETALIATION BY IRAN AGAINST THE UNITED STATES OF AMERICA WILL BE MET WITH FORCE FAR GREATER THAN WHAT WAS WITNESSED TONIGHT. THANK YOU! DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES." Greg Kennedy, director of the Economic Conflict and Competition Research Group at King's College London, told Newsweek: "This is not an act that just stays in the Gulf region, it has wider global strategic ripples." Jorge León, head of geopolitical analysis at energy consultancy Rystad, told the Financial Times on Sunday: "In an extreme scenario where Iran responds with direct strikes or targets regional oil infrastructure, oil prices will surge sharply. Even in the absence of immediate retaliation, markets are likely to price in a higher geopolitical risk premium." Spencer Hakimian, founder of Tolou Capital Management, wrote on X, formerly Twitter, on Saturday: "There are close to 50 large oil tankers scrambling to leave the Strait of Hormuz right now. Looks like the oil industry is expecting the Strait to be blockaded in the coming days." The New York Stock Exchange (NYSE) stands in lower Manhattan on June 18, 2025 in New York City. Traders are looking ahead to the Federal Reserve's monetary policy decision later today. The New York Stock Exchange (NYSE) stands in lower Manhattan on June 18, 2025 in New York City. Traders are looking ahead to the Federal Reserve's monetary policy decision later Happens Next Markets will closely monitor Iran's response as trading opens Monday, with analysts remaining divided on the likelihood of strait closure. The final decision about Iran's response will be made by Khamenei; the parliament's vote to close the strait merely advises him of the option to pursue. Reporting from the Associated Press contributed to this article.

CNBC

4 hours ago

• CNBC

CNBC Daily Open: Have Trump's strikes on Iran bolstered or eroded his credibility?

United States on Saturday conducted air strikes on three of Iran's nuclear sites, entering Israel's war against Tehran. The timing was unexpected. On Thursday, U.S. President Donald Trump said he was still considering U.S. involvement and would arrive at a decision "within the next two weeks." Financial and political analysts had largely taken that phrase as code word for inaction. "There is also skepticism that the 'two-week' timetable is a too familiar saying used by the President to delay making any major decision," wrote Jay Woods, chief global strategist at Freedom Capital Markets. Indeed, Trump has commonly neglected to follow up after giving a "two week" timeframe on major actions, according to NBC News. And who can forget the TACO trade? It's an acronym that stands for "Trump Always Chickens Out" — which describes a pattern of the U.S. president threatening heavy tariffs, weighing down markets, but pausing or reducing their severity later on, helping stocks to rebound. "Trump has to bury the TACO before the TACO buries him ... he's been forced to stand down on many occasion, and that has cost him a lot of credibility," said David WOO, CEO of David Woo Unbound. And so Trump followed up on his threat, and ahead of the proposed two-week timeline. "There will be either peace, or there will be tragedy for Iran far greater than we have witnessed over the last eight days," Trump said on Saturday evening. But given Trump's criticism of U.S. getting involved in wars under other presidents, does America bombing Iran add to his credibility, or erode it further? The U.S. strikes Iran U.S. President Donald Trump on Saturday said the United States had attacked Iranian nuclear sites, pushing America into Israel's war with its longtime rival. Secretary of Defense Pete Hegseth said Sunday that "Iran's nuclear ambitions have been obliterated." The decision to attack Iran engages the American military in active warfare in the Middle East — something Trump had vowed to avoid. Iran calls attacks 'outrageous'Iran's Foreign Minister Abbas Araghchi on Sunday said Tehran reserves all options to defend its sovereignty and people after the "outrageous" U.S. attacks on three of its major nuclear enrichment facilities. Iranian state-owned media, meanwhile, reported that Iran's parliament backed closing the Strait of Hormuz, citing a senior lawmaker. The U.S. on Sunday called on China to prevent Iran from doing so. Stock futures in U.S. retreatU.S. futures slid Sunday evening stateside as investors reacted to Washington's strikes on Iran. On Friday, U.S. markets mostly fell. The S&P 500 lost 0.22%, its third consecutive losing session, while the Nasdaq Composite retreated 0.51%. But the Dow Jones Industrial Average eked out a 0.08% gain. The pan-European Stoxx 600 index ticked up 0.13%, but ended the week 1.5% lower. Oil jumps but bitcoin slumpsOil prices jumped Sunday evening in the U.S., its first trading session after Saturday's strikes. U.S. crude oil rose $1.76, or 2.38%, to $75.60 per barrel, while global benchmark Brent was up $1.80, or 2.34%, to $78.81 per barrel. Meanwhile, bitcoin prices briefly dipped below the $99,000 mark Sunday, its lowest level in more than a month, before paring losses. It's now trading around $100,940, down 1.5%. [PRO] Eyes on inflation reading Where markets go this week will depend on whether the conflict in the Middle East escalates after the U.S.' involvement. Investors should also keep an eye on economic data. May's personal consumptions expenditure price index, the Federal Reserve's preferred gauge of inflation, comes out Friday, and will tell if tariffs are starting to heat up inflation. How regime change in Iran could affect global oil prices Senior Israeli officials said this week that their military campaign against Iran could trigger the fall of the regime, an event that would have enormous implications for the global oil market. There are no signs that the regime in Iran is on the verge of collapse, said Scott Modell, CEO of the consulting firm Rapidan Energy Grop. But further political destabilization in Iran "could lead to significantly higher oil prices sustained over extended periods," said Natasha Kaneva, head of global commodities research at JPMorgan, in a note to clients this week. There have been eight cases of regime change in major oil-producing countries since 1979, according to JPMorgan. Oil prices spiked 76% on average at their peak in the wake of these changes, before pulling back to stabilize at a price about 30% higher compared to pre-crisis levels, according to the bank.