Stock; oil futures on roller-coaster ride amid Israel-Iran conflict
U.S. futures ticked lower overnight amid jitters among investors over the Middle East -- but later recovered after Trump put on hold a decision on direct U.S. involvement in the Israel-Iran conflict. File Photo by John Angelillo/UPI | License Photo
June 20 (UPI) -- Stock futures ticked lower before markets reopened Friday morning amid uncertainty among investors over the Middle East and whether the United States was about to get directly involved in the Israel-Iran conflict.
Contracts connected to the Dow Jones Industrial Average dropped more than 83 points, 0.2%; futures for the tech-heavy NASDAQ 100 and broad-market S&P 500 futures were also off by 0.2% at the open after markets were shuttered all day Thursday for the Juneteenth holiday.
However, all three sets of futures recovered lost ground by 8 a.m. EDT, and were roughly flat.
The November contract for Brent Crude Oil, the international benchmark, fell by more than 2% on jitters from comments by Israeli Prime Minister Benjamin Netanyahu that he was weighing expanding airstrikes to "stategic targets" in Iran.
However, at just over $72 per barrel, it remains more than $6 above where it was on June 12 before Israel launched its offensive on Iran.
The news sent the July contract for West Texas Intermediate -- U.S. crude -- 1% higher, before reversing into negative territory, down 0.2%.
"There are several key questions to answer before we know how stocks will handle this geopolitical shock, including how much of Iran's energy infrastructure will be impaired and for how long, whether Iran's nuclear capabilities will be completely wiped out, and whether the current regime will remain in power," LPL Financial chief equity strategist Jeff Buchbinder told CNBC.
Analysts suggested the market was in a holding pattern, still digesting Fed Reserve Jerome Powell's decision to keep interest rates unchanged and comments that the central bank was unlikely to make a cut until the economic impact of President Donald Trump's tariffs became clearer.
International markets were mostly positive, with stock prices higher in Europe and Asia, with the exception of Tokyo where the Nikkei 225 ended the day down 0.2%.
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USA Today
31 minutes ago
- USA Today
I'm exhausted by attempts to pretend discrimination doesn't exist in America
Mary-Frances Winters defined the term 'Black fatigue' in her book of the same name, describing it as a form of psychological and emotional exhaustion from persistent racism and microaggressions. You know what I'm tired of? The MAGA movement twisting and co-opting language used to help Americans cope with racism and turning it back on them. The latest example is "Black fatigue." In 2020, author Mary-Frances Winters defined the term in her book of the same name, describing it as a form of psychological and emotional exhaustion from persistent racism and microaggressions. This fatigue can impact one's mental and spiritual well-being, and if left unaddressed, it could also affect physical health and shorten life expectancy. Today, the term has been co-opted by the right – and even people unwittingly using it against themselves. For instance, when five girls attack a woman at the opening night of the Milwaukee Night Market, it is labeled "Black fatigue." When some boys drive recklessly in a stolen car, it is also called "Black fatigue." When a 39-year-old man is arrested in the shooting of a Milwaukee police officer, you guessed it. I reached out to Winters, 74, who said she was not surprised to learn the MAGA crowd had co-opted the term. However, she is disheartened that some are using it against their fellow African Americans. Opinion: I remember my first Juneteenth. It's more than a Black holiday. While it's understandable for people to feel frustrated and speak out when they witness something bad happen, it's important to recognize that no single group has a monopoly on bad behavior. The bigger question is why do Black people often find themselves under greater scrutiny? I believe we know the answer to that. Real 'Black fatigue' gives voice to microaggressions, systemic racism This disparity is precisely why Winters coined the term in the first place, capturing the struggles faced by the Black community in a world that is quick to pass judgment. Ironically, the movement co-opting the term is the one inflicting the pain by pretending bigotry doesn't exist by President Donald Trump's attempt to erase diversity, equity and inclusion programs. Opinion: Trump worries more about South Africa's nonexistent genocide than real US racism When Winters' book was released, America was grappling with a global pandemic and confronting systemic racism after the death of George Floyd at the hands of Minneapolis police officer Derek Chauvin, who sparked nationwide protests. When she was writing the book, many expressed to Winters, the founder and CEO of The Winters Group, Inc., a 40-year-old global organization development and DEI consulting firm, that they felt exhausted by microaggressions, conveying a sense of pressure to excel at work but thought they were only making minimal progress. Think of it as constantly walking on a new carpet. Over time, you don't realize how the fibers are worn down until you compare before-and-after pictures and see how your repeated steps have diminished the carpet's beauty. That's what racism does. Since Trump took office again, Winters noted that real Black fatigue has intensified due to his rhetoric and policies, which have escalated racial tensions and eroded civil rights protections, further compounding a long history of unacknowledged, unaddressed racism and discrimination. 'He's hurting people. Just think about all the government jobs that have been eliminated," Winters said. "A lot of those employees were Black men and women who now must figure out what they want to do." MAGA uses concept to perpetuate negative, racist stereotypes There are dozens of videos online featuring people discussing the co-opted concept of Black fatigue, and to be honest, it makes me angry. It's not surprising, though, as there are even more videos and websites seemingly dedicated to showcasing the worst behaviors. Sites like and 'Ghetto Fights' often highlight instances of fighting, or just being unkind to each other. Given that our country is so hypersegregated, it's no wonder that people watch these clips and conclude this is representative. And the thing that is so tiring is how the term has been twisted so silently. Dynasty Ceasar, a local community activist who has studied race and racism, was unaware that the definition had changed. She described the issue as 'complex and sensitive,' making it difficult to grasp. 'We need to be mindful of the impact of such statements and avoid language that reinforces negative stereotypes or internalizes racism,' Ceasar said. It's important to clarify that I'm not suggesting that Black people should avoid accountability for their negative actions. What I mean is that everyone, regardless of their race, should be held accountable for their actions but should not be subjected to a different standard than anyone else. It's easy to fall into the trap and use the term incorrectly When I spoke to Winters, I had to be entirely transparent and shared with her that I had inadvertently fallen into the trap. I shared an incident I witnessed while shopping at Plato's Closet, a resale shop in Greenfield. I was about to buy some shoes when I noticed an elderly White woman with her grandson. She was purchasing a pair of sunglasses for him, and I let them skip ahead of me in line because her grandson was very antsy. While we were waiting, a Black woman was selling some shoes and seemed unhappy with what was being offered to her. When the cashier called for the next customer, the older woman accidentally bumped into her, which sparked a verbal altercation. The Black woman began cursing, expressing her frustration about people who bump into her without saying "excuse me." Although the older woman apologized, it only seemed to escalate the situation, as the woman continued to curse and insult her. After both women left the store, several employees asked what had just happened, and I felt compelled to explain the situation. After the incident, I called my cousin and mentioned that I had experienced "Black fatigue" because I felt that the woman's behavior was out of line. My cousin told me that I was misusing the term. Winters and Ceasar both agreed that racism is rarely the result of a single action; it is much more complex than that. While they did not condone the actions of the woman for shouting, Ceasar acknowledged that her outburst might have stemmed from the many times she had been ignored, overlooked as if she did not exist, or made to feel devalued. If Black fatigue can negatively impact on a person's mind, body and spirit, it can also lead to diminished emotional well-being, sometimes manifesting as outbursts to seek acknowledgment. If you find yourself using the term to express disappointment about something bad happening in the world, take a moment to consider how you express that. If your feelings are not specifically related to race, then your fatigue may not be about racial issues at all. It might be about human nature. However, if you believe that only Black people are capable of negative actions and continue to use the term in that context, it might be necessary to reflect on your own biases. That's what I'm tired of. James E. Causey is an Ideas Lab reporter at the Milwaukee Journal Sentinel, where this column originally appeared. Reach him at jcausey@jrnhttps:// or follow him on X: @jecausey
USA Today
31 minutes ago
- USA Today
Trump Mobile, gender care and the champion Panthers: The week in review
Floods ravage Texas, Appalachians Torrential rain and flash flooding in Texas and parts of West Virginia trapped drivers, swept vehicles away and pulled homes off their foundations, leaving as many as 20 people dead and communities struggling to recover. Thunderstorms over San Antonio dropped nearly 10 inches of rain in a matter of hours, more that double the amount of rain the area typically gets in all of June. Up to 4 inches drenched the Appalachian region, overwhelming creeks and waterways. 'It happened so quickly,' said Lou Vargo, Ohio County's emergency management director. "I've been doing this for 35 years. … I've never seen anything like this.' Court upholds gender care ban The U.S. Supreme Court dealt a blow to the transgender rights movement and a victory to the Trump administration when it upheld a Tennessee law barring gender-affirming care for minors. The ruling fell along ideological lines as the court's six conservative justices ruled in favor of the ban and the three liberals dissented. Tennessee Attorney General Jonathan Skrmetti said the decision was a victory 'in defense of America's children'; Kimberly Inez McGuire, head of Unite for Reproductive & Gender Equity, said the court chose 'cruelty over care.' Trump Mobile answers the call Yet another enterprise is getting the Trump name. Trump Mobile, a new cellular service, will offer the 5G '47 Plan' for $47.45 a month (Donald Trump is the nation's 47th and 45th president) and its own phone, the T1 Phone, the Trump Organization announced. 'Trump Mobile is going to change the game,' said Donald Trump Jr., who runs the president's conglomerate with his brother Eric. The gold-colored phone will retail for $499. Of course that's not the only venture in the Trump orbit: There's Truth Social and the crypto company World Liberty Financial, plus Trump Bibles, watches, sneakers and guitars. Steve Carell's advice to grads: 'Just dance' When Steve Carell is your commencement speaker, you should be ready for anything. The actor, who was presented with an honorary degree from Northwestern University before he spoke to its graduates, briefly turned the ceremony into a dance party as he bolted off the stage and into the crowd of delighted grads to 'That's Not My Name' by The Ting Tings. 'That was as invigorating as it was disturbing,' he told them afterward. His speech was not without some sage advice: 'Remember to laugh when you have the opportunity and to cry when necessary,' he said. And, 'just dance sometimes.' Twice is nice for the Florida Panthers Who said the Sunshine State is no place for hockey? The Florida Panthers netted their second straight Stanley Cup − and denied the Edmonton Oilers a second straight time − with a 5-1 romp in front of the home crowd in Game 6 behind a record-tying four goals from winger Sam Reinhart. The Cats join their brethren the Tampa Bay Lightning, who won back-to-back Cups in 2020 and 2021. As for Edmonton, falling short again was especially stinging: The last Canadian team to take home the Stanley Cup was the Montreal Canadiens in 1993. − Compiled and written by Robert Abitbol, USA TODAY copy chief
Miami Herald
38 minutes ago
- Miami Herald
Europe's growing fear: How Trump might use US tech dominance against it
LONDON -- When President Donald Trump issued an executive order in February against the chief prosecutor of the International Criminal Court for investigating Israel for war crimes, Microsoft was suddenly thrust into the middle of a geopolitical fight. For years, Microsoft had supplied the court -- which is based in The Hague in the Netherlands and investigates and prosecutes human rights breaches, genocides and other crimes of international concern -- with digital services such as email. Trump's order abruptly threw that relationship into disarray by barring U.S. companies from providing services to the prosecutor, Karim Khan. Soon after, Microsoft, which is based in Redmond, Washington, helped turn off Khan's ICC email account, freezing him out of communications with colleagues just a few months after the court had issued an arrest warrant for Prime Minister Benjamin Netanyahu of Israel for his country's actions in the Gaza Strip. Microsoft's swift compliance with Trump's order, reported earlier by The Associated Press, shocked policymakers across Europe. It was a wake-up call for a problem far bigger than just one email account, stoking fears that the Trump administration would leverage America's tech dominance to penalize opponents, even in allied countries like the Netherlands. 'The ICC showed this can happen,' said Bart Groothuis, a former head of cybersecurity for the Dutch Ministry of Defense who is now a member of the European Parliament. 'It's not just fantasy.' Groothuis once supported U.S. tech firms but has done a '180-degree flip-flop,' he said. 'We have to take steps as Europe to do more for our sovereignty.' Some at the ICC are now using Proton, a Swiss company that provides encrypted email services, three people with knowledge of the communications said. Microsoft said the decision to suspend Khan's email had been made in consultation with the ICC. The company said it had since enacted policy changes that had been in the works before the episode to protect customers in similar geopolitical situations in the future. When the Trump administration sanctioned four additional ICC judges this month, their email accounts were not suspended, the company said. Brad Smith, Microsoft's president, said concerns raised by the ICC episode were a 'symptom' of a larger erosion of trust between the United States and Europe. 'The ICC issue added fuel to a fire that was already burning,' he said. Khan has been on leave from the ICC since last month, pending a sexual misconduct investigation. He has denied the allegations. An ICC spokesperson said it was taking steps to 'mitigate risks which may affect the court's personnel' and 'taking extensive measures to ensure the continuity of all relevant operations and services in the face of sanctions.' The episode has set off alarms across Europe about how dependent European governments, businesses and citizens are on U.S. tech companies like Microsoft for essential digital infrastructure -- and how hard it will be to disentangle themselves. Concerns about how else Trump might leverage technology for political advantage has jump-started efforts across the region to develop alternatives. Casper Klynge, a former Danish and European Union diplomat who worked for Microsoft, said the episode was in many ways the 'smoking gun that many Europeans had been looking for.' 'If the U.S. administration goes after certain organizations, countries or individuals, the fear is American companies are obligated to comply,' said Klynge, who now works for a cybersecurity company. 'It's had a profound impact.' The tech debate adds to an increasingly fractious U.S.-European relationship over trade, tariffs and the war in Ukraine. Trump and Vice President JD Vance have criticized how Europe regulates U.S. tech companies, and U.S. officials have made digital oversight and taxation part of ongoing trade negotiations. European regulators have argued that they need to be able to police the biggest digital platforms in their own countries without worrying that they will face political pressure and punishment from a foreign government. 'If we don't build adequate capacity within Europe, then we won't be able to make political choices anymore,' said Alexandra Geese, a member of the European Parliament. Since Edward Snowden's leak of scores of documents in 2013 detailing widespread U.S. surveillance of digital communications, Europeans have sought to diminish their reliance on U.S. tech. Lawmakers and regulators have targeted Apple, Meta, Google and others for anticompetitive business practices, privacy-invading services, and the spread of disinformation and other divisive content. Yet without viable alternatives, institutions across the region have turned to U.S. digital services. Amazon, Google, Microsoft and other U.S. firms control more than 70% of the cloud computing market in Europe, which is the essential way for storing files, retrieving data and running other programs, according to Synergy Research Group. The ICC has been a longtime customer of Microsoft, which provides the court with services including the Office software suite and software for evidence analysis and file storage, according to an ICC lawyer who declined to be identified discussing internal procedures. Microsoft has also provided cybersecurity software to help the court withstand digital attacks from adversaries like Russia, which is being investigated for war crimes in Ukraine. In February, after Trump issued penalties against Khan, Microsoft met with ICC officials to decide how to respond. They concluded that Microsoft's broader work for the court could continue but that Khan's email should be suspended. He switched his correspondence to another email account, said a person who has communicated with him. Sara Elizabeth Dill, a lawyer who specializes in sanctions compliance, said the Trump administration was increasingly using sanctions and executive orders to target international institutions, universities and other organizations, forcing companies to make hard choices about how to comply. 'This is a quagmire and places these corporations in a very difficult position,' she said. How tech companies with global services respond is especially important, she added, 'as the broad repercussions are what people and organizations are primarily worried about.' Microsoft and other U.S. companies have sought to reassure European customers. On Monday, Microsoft CEO Satya Nadella visited the Netherlands and announced new 'sovereign solutions' for European institutions, including legal and data security protections for 'a time of geopolitical volatility.' Amazon and Google have also announced policies aimed at European customers. Still, many institutions are exploring alternatives. In the Netherlands, the 'subject of digital autonomy and sovereignty has the full attention of the central government,' Eddie van Marum, the state secretary of digitalization in the Ministry of Interior Affairs, said in a statement. The country is working with European providers on new solutions, he said. In Denmark, the digital ministry is testing alternatives to Microsoft Office. In Germany, the northern state of Schleswig-Holstein is also taking steps to cut its use of Microsoft. In the European Union, officials have announced plans to spend billions of euros on new artificial intelligence data centers and cloud computing infrastructure that rely less on U.S. companies. Groothuis, the Dutch member of the European Parliament, said lawmakers in Brussels were discussing policy changes that would encourage governments to favor buying tech services from EU-based companies. 'The situation is not tenable, and we see a big push from European governments to become more independent and more resilient,' said Andy Yen, CEO of Proton. European tech companies see an opportunity to win customers from their U.S. rivals. Cloud service providers like Intermax Group, based in the Netherlands, and Exoscale, based in Switzerland, said they had seen a jump in new business. 'A few years ago, everyone was saying, 'They're our trusted partners,'' Ludo Baauw, Intermax's CEO, said of U.S. tech companies. 'There's been a radical change.' This article originally appeared in The New York Times. Copyright 2025
