S&P 500, Nasdaq end down, investors eye Mideast
The S&P 500 and Nasdaq have ended lower, with investors on edge over the Iran-Israel conflict heading into the weekend, as the US considers whether to get involved.
Trading was choppy for much of the session on Friday.
Iran's Foreign Minister Abbas Araqchi said Tehran backed continued discussions with Germany, France, Britain and the EU and would be prepared to meet again soon following talks in Geneva.
The White House said on Thursday that President Donald Trump will decide in the next two weeks whether the US 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.
According to preliminary data, the S&P 500 lost 12.53 points, or 0.21 per cent, to end at 5,968.34 points, while the Nasdaq Composite lost 95.27 points, or 0.49 per cent, to 19,451.01. The Dow Jones Industrial Average rose 38.47 points, or 0.09 per cent, to 42,210.13.
Investors 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.
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.
Tech-related megacap stocks, including Nvidia, were among the biggest negatives on the S&P 500 and Nasdaq.
Kroger shares jumped after the grocery chain increased its annual sales growth forecast.
Shares of Accenture fell after the IT services provider said new bookings decreased in the third quarter.
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Sky News AU
32 minutes ago
- Sky News AU
Donald Trump hints at regime change in Iran while declaring 'MAKE IRAN GREAT AGAIN' after US strikes
President Donald Trump on Sunday said there may be a regime change if Iranian leadership cannot "MAKE IRAN GREAT AGAIN," following strategic U.S. strikes on key Iranian nuclear facilities on Saturday. In a post to Truth Social, the president questioned why there would not be a leadership shift following the devastating blow to the country's nuclear program. "It's not politically correct to use the term, 'Regime Change,' but if the current Iranian Regime is unable to MAKE IRAN GREAT AGAIN, why wouldn't there be a Regime change???" he wrote. "MIGA!!!" Earlier in the day, Trump announced the B-2 stealth bombers credited with strategic attacks landed safely at Whiteman Air Force Base in Missouri, applauding their efforts. "The GREAT B-2 pilots have just landed, safely, in Missouri," he wrote. "Thank you for a job well done!!! DONA[L]D J. TRUMP, PRESIDENT OF THE UNITED STATES!" The president added that the damage to the sites was "monumental," pushing back on skepticism from critics about the success of the operation. "The damage to the Nuclear sites in Iran is said to be 'monumental,'" he wrote in a separate post. "The hits were hard and accurate. Great skill was shown by our military. Thank you!" More than 125 aircraft were involved in the strikes in Fordow, Natanz and Isfahan, including seven B-2 stealth bombers, multiple fourth and fifth-generation fighters, dozens of air refueling tankers, a guided missile submarine and "a full array" of intelligence, surveillance and reconnaissance aircraft. Fox News Digital's Stephen Sorace contributed to this report. Originally published as Donald Trump hints at regime change in Iran while declaring 'MAKE IRAN GREAT AGAIN' after US strikes
Sky News AU
35 minutes ago
- Sky News AU
'Flat-footed': Prime Minister Anthony Albanese convenes National Security Committee 24 hours after US strikes on Iran
Prime Minister Anthony Albanese has convened a meeting of the National Security Committee of Cabinet almost 24 hours after the United States conducted strikes against Iran. The committee includes Prime Minister Anthony Albanese, Foreign Minister Penny Wong, Defence Minister Richard Marles, and other cabinet members. Mr Albanese has not made a public appearance since US President Donald Trump confirmed the strikes on Sunday. Meanwhile, Foreign Minister Penny Wong finally expressed support for the US attacks on Monday after initially failing to back Australia's closest ally. 'What happens now matters. We do not want to see escalation. We call for diplomacy, de-escalation and dialogue,' Ms Wong said at a doorstop press conference on Monday. 'The world does not want to a full-scale war in the Middle East.' Ms Wong also told reporters that Australia was 'not a central player' in the Israel-Iran conflict. Two Royal Australian Air Force (RAAF) planes landed in Dubai on Sunday ahead of repatriation flights for Australians stranded in Israel. According to the Department of Foreign Affairs and Trade (DFAT) there were about 2,900 Australians in Iran and 1,300 in Israel who were seeking to leave the region. Acting shadow foreign affairs minister Andrew Hastie, in response, criticised the Albanese government for being "flat-footed" in its response to the conflict on Monday. 'I think, though, what yesterday demonstrated was that the prime minister's flat-footed," he told the ABC. "His instincts aren't great on this, and he should have called a NSC (National Security Council) meeting yesterday for an event of such significance." Shadow competition minister Dave Sharma also told Sky News that Australia had made itself 'irrelevant' through the conflict. 'We had (Defence Minister) Richard Marles… calling for de-escalation at the very same time, almost, that US B2 bombers… were striking nuclear targets in Iran,' he said. 'No one listens to our views seriously anymore on these issues, particularly in the Middle East.' Just hours before President Donald Trump confirmed the US had destroyed Iran's nuclear facilities, Mr Marles had called for 'de-escalation'. "The Iranian nuclear ballistic missile program is most definitely a threat to the peace and stability of not only the Middle East," he told Sky News on Sunday. 'We have used our voice to urge de-escalation. And that's our position in respect of both the Iranian program, but also, more specifically, in respect of this conflict.' Mr Marles was asked if he was having '$1 each way' by not explicitly supporting the US bombing of Iranian nuclear sites, prohibiting their access to world-ending technology. The Defence Minister stumbled over his answer as he attempted to explain the government's stance on the matter. 'Uh, uh. Um, I'm... articulating the Australian government's position. That's the only thing I can articulate,' Mr Marles said. 'We are making it clear that we see that the Iranian program represents a threat to the peace and stability of the region and the world... 'What we're saying in relation to this specific conflict is that we are worried about its prospect for escalation.' Roughly 24 hours later, Ms Wong insisted the government was 'very clear' in its support for US strikes against Iran. 'Australia has been clear, along with the international community, that Iran cannot be allowed to develop a nuclear weapon,' she told reporters at Parliament House. 'We support action to prevent that from occurring and this is what this was.' Her comments mark a notable shift in tone from the carefully worded government statement released on Sunday. That initial statement did not include any reference to Australia 'supporting' the US action.
News.com.au
38 minutes ago
- News.com.au
‘What an idiot': New York Times savaged over ‘boys on the bombers' fact check
The US has officially joined Israel in its battle against nuclear power Iran, and the New York Times was ready and waiting to wag a woke finger in the direction of Defense Secretary Pete Hegseth over his choice of words in a press briefing. In a Sunday news conference, Hegseth heaped praise on President Trump and the military campaign that saw six 'bunker buster' bombs dropped on key nuclear sites in the country. 'The operation President Trump planned was bold and it was brilliant, showing the world that American deterrence is back,' he said, warning, 'when this president speaks, the world should listen — and the US military, we can back it up.' At one point, Hegseth casually called the B-2 pilots who dropped the 15-ton bombs on targets in Iran 'our boys on those bombers,' which the New York Times appeared to jump on. 'In the briefing, Hegseth referred to B-2 pilots as 'our boys on those bombers,' yet both men and women have been trained to fly them,' NYT Pentagon reporter John Ismay corrected the record on the outlet's blog. The posting drew hundreds of scornful comments on social media. 'This is why people use the New York Times to line their bird cages,' one poster mused. 'Yes, let's make sure to be politically correct at this serious time,' another sarcastically quipped. 'What an idiot. We women know exactly what Secretary Hegseth meant,' said an X user. It's not clear whether any women took part in the 37-hour B-2 bomber raid, which saw the stealth planes take off from and return to Whiteman Air Force Base in western Missouri. It's a bizarre time to drop a fact check on something that wasn't even trolling from the Trump administration, particularly when Iran threatened US bases in the Middle East as a result of the US attacks. International concern focused on fears that the unprecedented US attacks would deepen conflict in the volatile region after Israel launched a bombing campaign against Iran earlier this month. Ali Akbar Velayati, an adviser to Iran's supreme leader Ayatollah Ali Khamenei, said bases used by US forces could be attacked in retaliation. 'Any country in the region or elsewhere that is used by American forces to strike Iran will be considered a legitimate target for our armed forces,' he said in a message carried by the official IRNA news agency. 'America has attacked the heart of the Islamic world and must await irreparable consequences.' President Donald Trump urged Iran to end the conflict after he launched surprise strikes on a key underground uranium enrichment site at Fordo, along with nuclear facilities in Isfahan and Natanz. 'We had a spectacular military success yesterday, taking the 'bomb' right out of their hands (and they would use it if they could!)' he said on social media. And while the US president did not directly advocate regime change in the Islamic republic, he openly played with the idea – even after his aides stressed that was not a goal of American intervention. 'It's not politically correct to use the term, 'Regime Change,' Trump posted on his Truth Social platform. 'But if the current Iranian Regime is unable to MAKE IRAN GREAT AGAIN, why wouldn't there be a Regime change??? MIGA!!!' Hegseth told a Pentagon press briefing earlier that Iran's nuclear program had been 'devastated,' adding the operation 'did not target Iranian troops or the Iranian people.' Standing beside Hegseth, top US general Dan Caine said that while it would be 'way too early' for him to determine the level of destruction, 'initial battle damage assessments indicate that all three sites sustained extremely severe damage and destruction.'
