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Bloomberg
40 minutes ago
- Bloomberg
Equities Finish Choppy Session Lower
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Carol Massar and Tim Stenovec. (Source: Bloomberg)
Yahoo
an hour ago
- Yahoo
US stocks end mostly lower as investors weigh Trump's Iran plan, Fed rate cut possibility
U.S. stocks closed mostly lower as investors waited to see if President Donald Trump will attack Iran or hammer out a nuclear deal with the country. Trump will decide within two weeks on striking Iran, according to White House spokeswoman Karoline Leavitt. He's open to talks, but Iran has said it won't negotiate with the U.S. unless Israel stops attacking. The only way to end the imposed war is to 'unconditionally stop' the enemy's aggression, Iranian President Masoud Pezeshkian said Friday in a post on X. European leaders from UK, France and Germany are talking with Iranian leaders and reportedly will encourage discussions with the U.S. Still, senior U.S. officials have been preparing for the possibility of a strike on Iran, with some pointing to potential plans for a weekend strike, according to Bloomberg, citing people familiar with the matter. Stocks got an early boost from Federal Reserve Governor Christopher Waller who said in a CNBC interview he doesn't expect tariffs to boost inflation significantly so policymakers should be looking to lower interest rates as early as next month. Lower rates are seen as a boost for stocks because they encourage borrowing and investing by cutting the cost of financing. 'That would be my view, whether the committee would go along with it or not,' Waller said. His tone was different from Fed Chair Jerome Powell's comments earlier this week that the Fed was in no hurry to move rates. Instead, the central bank would wait to see effects of Trump's tariffs on inflation, the economy and jobs. The blue-chip Dow index closed up 0.08%, or 35.16 points, to 42,206.82; the broad S&P 500 dipped 0.22%, or 13.03 points, to 5,967.84, below the key psycholgical 6,000 level and its third straight loss; and the tech-heavy Nasdaq fell 0.51%, or 98.86 points, to 19,447.41. Oil prices dipped to $75 per barrel. The benchmark 10- year yield fell to 4.379%. In early afternoon trade, chip stocks fell after the Wall Street Journal said Jeffrey Kessler, head of the Commerce Department unit in charge of export controls, told top global semiconductor makers he wanted to revoke waivers they have used to access American technology in China. Currently, South Korea's Samsung Electronics, SK Hynix, and Taiwan Semiconductor Manufacturing enjoy blanket waivers that allow them to ship American chip-making equipment to their factories in China without applying for a separate license each time, the story said. Analysts at Jefferies, though, said in a note "it is not very material in our view. We are talking about three fabs which are not big buyers of equipment in any three companies will simply move any production they can't do in China to their fabs in Taiwan or Korea." Trump again criticized Federal Reserve Chairman Jerome Powell after the Federal Reserve rates remained unchanged this week. Trump labeled Powell as 'destructive' in a social media post and said Powell is costing the United States 'hundreds of billions of dollars' by leaving rates steady. Trump has been calling for rate cuts to boost the economy and drop the cost of U.S. debt financing. CarMax's results in the first three months of its fiscal year topped analysts' forecasts. Shares rose 6.59%. Darden Restaurants results in the last three months of its fiscal year beat analysts' expectations. The restaurant chain owner also issued a solid sales outlook for fiscal year 2026. Shares rose 1.36%. Accenture topped quarterly revenue estimates but its bookings fell for the second straight quarter. Shares dropped 6.86%. Microsoft plans to lay off several thousand employees in the next few weeks. Shares were marginally lower. Smith and Wesson's sales in the last three months of its fiscal year missed forecasts and profit declined from a year ago It said steel tariffs could drive up costs for the gunmaker. Shares slid 19.81%. Specialty building products company GMS is getting buyout interest from both QXO and Home Depot. QXO offered GMS $95.20 per share and the Wall Street Journal said Home Depot made a separate private offer. GMS shares jumped 23.63%. Grocery chain Kroger reported mixed quarterly results, but raised its annual same-stores sales outlook. Kroger said tariffs hadn't materially impacted the business and price increases were its last resort. Shares gained 9.84%. Hackers with possible links to Israel have drained more than $90 million from Nobitex, Iran's largest cryptocurrency exchange, according to blockchain analytics firms, media reports said. Bitcoin was last down 1.02% at $103,595.00. (This story was updated with new information.) Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday. This article originally appeared on USA TODAY: US stocks close mostly lower as investors mull Trump Iran move, Fed 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
Bloomberg
an hour ago
- Bloomberg
Bitcoin Network Activity Slows While Price Lingers Near Highs
Once institutional investors are finally onboard has long been a rallying cry for Bitcoin enthusiasts projecting sky-high price forecasts. A recent analysis of network activity on the original blockchain suggests they've already arrived. Even with prices just below record highs, there has been a decline in transactions and a rise in settlement value, indicating that institutional or high-net-worth participants are becoming more dominant, analysts at Glassnode wrote in a report Friday.
